Event Tickets - Kenya

Kenya

Revenue in the Event Tickets market is projected to reach €38.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.52%, resulting in a projected market volume of €43.99m by 2028.
The Sport Events market has a projected market volume of €27.27m in 2024.
In global comparison, most revenue will be generated in the United States (€33,150.00m in 2024).
The average revenue per user (ARPU) in the Event Tickets market is projected to amount to €48.13 in 2024.
In the Event Tickets market, the number of users is expected to amount to 855.9k users by 2028.
User penetration in the Event Tickets market will be at 1.4% in 2024.

Key regions: Germany, India, China, Europe, Japan

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Analyst Opinion

The Event Tickets market in Kenya has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Kenya, there has been a shift in customer preferences towards attending live events and experiences. With the rise of social media and the desire for unique and shareable experiences, consumers are increasingly seeking out events such as concerts, festivals, and sports matches. This trend is further fueled by the growing middle class in Kenya, who have more disposable income to spend on entertainment.

Trends in the market: One of the key trends in the Event Tickets market in Kenya is the increasing popularity of music concerts and festivals. Kenyan artists as well as international acts are attracting large crowds and selling out venues. This trend can be attributed to the growing music industry in Kenya, which has seen the emergence of talented artists and a vibrant music scene. Additionally, the rise of music streaming platforms has made it easier for consumers to discover and follow their favorite artists, leading to increased demand for live performances. Another trend in the market is the growing interest in sports events. Kenya has a strong sports culture, with football, rugby, and athletics being popular sports. Local and international matches, as well as tournaments, attract a large number of spectators. This trend is also supported by the success of Kenyan athletes in international competitions, which has generated excitement and pride among the population.

Local special circumstances: Kenya has a young and dynamic population, with a large percentage of the population under the age of 35. This demographic factor contributes to the demand for event tickets, as young people are more likely to attend live events and engage in social activities. Additionally, Kenya has a vibrant arts and culture scene, with a rich heritage of music, dance, and theater. This cultural diversity and creativity contribute to the variety of events available in the market, attracting a diverse audience.

Underlying macroeconomic factors: The growth of the Event Tickets market in Kenya is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, which has resulted in increased disposable income and consumer spending. This economic stability has created a favorable environment for the entertainment industry to thrive. In conclusion, the Event Tickets market in Kenya is growing due to changing customer preferences, with a focus on live events and experiences. Music concerts and festivals, as well as sports events, are particularly popular among consumers. The young and dynamic population, vibrant arts and culture scene, and favorable macroeconomic factors contribute to the growth of the market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.