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Music Events - Mauritius

Mauritius

Revenue in the Music Events market is projected to reach €1.13m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -0.67%, resulting in a projected market volume of €1.10m by 2028.
In the Music Events market, the number of users is expected to amount to 46.2k users by 2028.
User penetration will be 3.8% in 2024 and is expected to hit 3.9% by 2028.
The average revenue per user (ARPU) is expected to amount to €24.60.
In global comparison, most revenue will be generated in the United States (€15,580.00m in 2024).
With a projected rate of 25.8%, the user penetration in the Music Events market is highest in Denmark.

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

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Analyst Opinion

The Music Events market in Mauritius has been experiencing steady growth in recent years, driven by customer preferences for live entertainment and a vibrant local music scene.

Customer preferences: Mauritians have a strong affinity for music and enjoy attending live events. Music events provide a platform for local artists to showcase their talent and connect with their audience. The demand for music events is also driven by international artists who perform in Mauritius, attracting both locals and tourists. Customers prefer a wide variety of music genres, including local Sega music, international pop, rock, and electronic music.

Trends in the market: One of the key trends in the Music Events market in Mauritius is the increasing number of music festivals. These festivals bring together local and international artists on a larger scale, providing a unique experience for attendees. The popularity of music festivals can be attributed to the diverse lineup of artists, the festive atmosphere, and the opportunity to discover new music. The rise of social media and online ticketing platforms has also made it easier for customers to access information about upcoming events and purchase tickets. Another trend in the market is the growing demand for music events in non-traditional venues. While traditional concert halls and stadiums still host major music events, there is a rising trend of hosting concerts in unique locations such as beaches, botanical gardens, and historical sites. This trend adds a special element to the music experience and attracts a wider audience.

Local special circumstances: Mauritius is known for its vibrant cultural scene and rich musical heritage. The local Sega music, which originated from the African and Creole communities, holds a special place in the hearts of Mauritians. Music events that showcase Sega music, both traditional and contemporary, are highly popular among locals. Additionally, the government of Mauritius actively promotes the local music industry through various initiatives and festivals, further boosting the Music Events market.

Underlying macroeconomic factors: The growth of the Music Events market in Mauritius is supported by the country's strong tourism industry. Mauritius is a popular tourist destination, attracting visitors from around the world. Many tourists specifically choose Mauritius for its vibrant music scene and the opportunity to attend music events. The government's focus on developing the tourism sector and promoting cultural tourism has contributed to the growth of the Music Events market. Additionally, the overall economic growth and increasing disposable income of Mauritians have also played a role in the development of the Music Events market. As people have more financial resources, they are willing to spend on entertainment and cultural experiences, including attending music events. In conclusion, the Music Events market in Mauritius is growing steadily due to customer preferences for live entertainment, the popularity of music festivals, the demand for unique venues, the local cultural scene, and the support from the tourism industry and the country's economic growth.

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.