The global online event ticketing market is anticipated to grow at a considerable CAGR of 4.2% during the forecast period. The global online event ticketing market is expected to expand as the number of live music performances by musician’s increases. With the global decline in recorded music sales in recent years, musicians and artists have become increasingly reliant on live music performances for a living. This has resulted in a flurry of music concerts and music events all around the world. The high demand for music events among the youth population is boosting the music event market's sales globally. The online event ticketing market has a significant portion of the music events segment, which includes sales for all music-related events like concerts, festivals, musicals, music shows, and operas. Pop music is immensely popular among teens. According to the International Federation of the Phonographic Industry's (IFPI) Music Consumer Insight 2018, around 64.0% of the global population listens to pop music.
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Concerts and festivals are the main source of revenue for online ticket sellers due to the development of aspiring musicians, music talent shows, and music streaming services for performers. Customers continue to pay more, as seen by the ongoing price increases brought on by the widespread usage of false and duplicate tickets. Additionally, the performances of local and foreign singers at music events draw in the younger generation who are passionate about music. For instance, in 2022, Glastonbury Festival the biggest live music event in Europe started, for the first time since 2019. There were 200,000 people on site in Somerset, in the west of England, watching thousands of performances across 93 different stages, including headliners Billie Eilish, Kendrick Lamar, and Diana Ross were in the highly prized Sunday afternoon ‘legends’ slot. The festival has developed into a national and international institution, as much a part of the traditional British summer as Wimbledon. And it is also a musical juggernaut, attracting the big names from every genre and capable of making or breaking new artists in a single set. Such events have huge price for tickets due to famous artist performing in it and mostly tickets are bought by customer via an online platform. Moreover, the increased penetration of internet globally and trend of using mobile applications for booking live events, concerts, and other music shows has driven the sale of tickets through online platforms at a considerable rate.
Global Online Event Ticketing Market Report Segment
By Platform
- Desktop
- Mobile
By Event Type
- Sports
- Music & Live Shows
- Movies
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Online Event Ticketing Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· Anschutz Entertainment Group, Inc
· Cinemark Holdings, Inc.
· Cineplex Inc.
· Eventbrite
· Fandango Inc.
· KyaZoonga, Inc.
· LIVE NATION WORLDWIDE, INC.
· SeatGeek
· StubHub
· Ticketek Pty Ltd
· Ticketmaster Entertainment LLC
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