Market Insights Digital eServices Event Tickets

Music Events - Peru

Peru

Revenue in the Music Events market is projected to reach €19.81m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 2.96%, resulting in a projected market volume of €22.26m by 2028.
In the Music Events market, the number of users is expected to amount to 727.7k users by 2028.
User penetration will be 2.1% in 2024 and is expected to hit 2.0% by 2028.
The average revenue per user (ARPU) is expected to amount to €27.66.
In global comparison, most revenue will be generated in the United States (€15,750.00m 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 Peru is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend. Customer preferences play a crucial role in the growth of the Music Events market in Peru. Peruvian consumers are increasingly seeking unique and immersive experiences, and music events provide the perfect platform for this. They are willing to spend their disposable income on live music performances, creating a demand for a diverse range of music events catering to different genres and tastes. The market is also influenced by various trends. One notable trend is the increasing popularity of international music festivals in Peru. These festivals attract both domestic and international music enthusiasts, boosting the overall demand for music events. Additionally, the rise of social media and digital platforms has made it easier for music event organizers to promote their events and reach a wider audience, further driving the growth of the market. Local special circumstances contribute to the development of the Music Events market in Peru. The country has a rich musical heritage and a vibrant local music scene, which provides a strong foundation for the growth of music events. Peruvian artists and bands are gaining recognition both domestically and internationally, creating a sense of pride among the local population and increasing the demand for live performances. Underlying macroeconomic factors also play a role in the growth of the Music Events market in Peru. The country's economy has been steadily growing, resulting in an increase in disposable income and consumer spending. As people have more money to spend on leisure activities, they are more likely to attend music events and contribute to the market's growth. In conclusion, the Music Events market in Peru is experiencing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for unique and immersive experiences, the popularity of international music festivals, the vibrant local music scene, and the country's growing economy all contribute to the positive trajectory 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.