Market Insights Digital eServices Event Tickets

Music Events - Switzerland

Switzerland

Revenue in the Music Events market is projected to reach €276.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.91%, resulting in a projected market volume of €297.80m by 2028.
In the Music Events market, the number of users is expected to amount to 1.5m users by 2028.
User penetration will be 17.1% in 2024 and is expected to hit 16.9% by 2028.
The average revenue per user (ARPU) is expected to amount to €182.20.
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 Switzerland has been experiencing steady growth in recent years, driven by the country's strong economy and the increasing popularity of live music events among Swiss consumers.

Customer preferences: Swiss consumers have shown a growing interest in attending music events, with a particular preference for international artists and popular music genres such as pop, rock, and electronic music. They value high-quality sound systems and production values, as well as unique and immersive experiences. Additionally, Swiss consumers are willing to pay a premium for VIP tickets or exclusive access to backstage areas, enhancing their overall event experience.

Trends in the market: One notable trend in the Music Events market in Switzerland is the rise of music festivals. Swiss music festivals have gained significant popularity, attracting both domestic and international attendees. These festivals offer a diverse lineup of artists and provide a multi-day experience, combining music with other activities such as art installations, food vendors, and camping options. This trend reflects the desire for a holistic and immersive music event experience among Swiss consumers. Another trend in the market is the increasing use of technology to enhance the music event experience. Swiss event organizers are leveraging technologies such as virtual reality (VR) and augmented reality (AR) to create interactive and engaging experiences for attendees. This includes offering virtual tours of the event venue, live streaming performances for remote viewers, and incorporating AR elements into stage designs and visual effects.

Local special circumstances: Switzerland's unique geography and cultural diversity contribute to the development of the Music Events market. The country's central location in Europe makes it easily accessible for both artists and attendees from neighboring countries. Additionally, Switzerland's multilingual population allows for a diverse range of music events catering to different language preferences and cultural backgrounds. Furthermore, Switzerland's reputation for precision and quality is reflected in the organization and execution of music events. Swiss event organizers prioritize attention to detail, ensuring smooth logistics, top-notch production values, and high levels of customer satisfaction. This reputation further enhances the appeal of the Music Events market in Switzerland.

Underlying macroeconomic factors: The strong Swiss economy plays a significant role in the growth of the Music Events market. A high standard of living and disposable income levels enable Swiss consumers to allocate a portion of their budget towards entertainment and leisure activities, including attending music events. Additionally, the stable economic environment provides a favorable investment climate for event organizers and sponsors, encouraging the development of new and innovative music events. In conclusion, the Music Events market in Switzerland is experiencing growth due to customer preferences for international artists and immersive experiences, the rise of music festivals, the use of technology to enhance the event experience, Switzerland's unique geography and cultural diversity, and the strong Swiss economy. These factors contribute to the overall development and success of the Music Events market in Switzerland.

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.