PUBLISHER: The Business Research Company | PRODUCT CODE: 1717242
PUBLISHER: The Business Research Company | PRODUCT CODE: 1717242
A music festival is a large-scale event that showcases live performances from multiple artists or bands, often spanning a wide range of music genres. Typically held over several days, it can take place in both outdoor and indoor venues, offering a mix of entertainment, food, and cultural experiences. Music festivals create a vibrant, communal atmosphere where diverse audiences come together, united by their love of music.
The main types of music festivals include pop music festivals, rock music festivals, hip-hop music festivals, electronic dance music festivals, and others. A pop music festival, for example, features a lineup of popular music artists and bands performing various styles of pop music. These festivals typically attract large crowds and cater to different age groups, such as those under 20, 21 to 40 years, and over 40 years. The events often involve various activities such as ticket sales, sponsorships, and merchandising.
The music festival market research report is one of a series of new reports from The Business Research Company that provides music festival market statistics, including the music festival industry's global market size, regional shares, competitors with a music festival market share, detailed music festival market segments, market trends and opportunities, and any further data you may need to thrive in the music festival industry. This music festival market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The music festival market size has grown rapidly in recent years. It will grow from $2.57 billion in 2024 to $3.04 billion in 2025 at a compound annual growth rate (CAGR) of 18.1%. The growth observed during the historic period can be attributed to the gradual adoption of hybrid models, increased awareness of hearing-related issues, a growing focus on spiritual entertainment consumption, the expansion of renewable energy infrastructure, and a rising interest in live music events.
The music festival market size is expected to see rapid growth in the next few years. It will grow to $5.85 billion in 2029 at a compound annual growth rate (CAGR) of 17.8%. The growth projected for the forecast period can be attributed to the increase in disposable income, the rise of music tourism, growing demand for unique live events, the expansion of digital media and social networking, and the rising number of festivals. Key trends during this period include innovations in the virtual event space, technological advancements, eco-friendly festivals, the integration of wellness experiences, and the growth of luxury accommodations at events.
The growing consumer demand for entertainment experiences is anticipated to drive the expansion of the music festival market in the future. Entertainment experiences involve immersive and engaging interactions with various forms of media, performances, or activities designed to entertain, such as movies, concerts, games, and virtual experiences. This demand is fueled by the desire for simplified experiences, value-driven choices, and increased digital engagement. Music festivals contribute to these experiences by offering vibrant environments where live performances, social interactions, and cultural diversity create memorable and immersive enjoyment for attendees. For example, in September 2024, a report by The Bureau of Labor Statistics revealed that entertainment expenditures in the US rose by 5.1%, from $3,458 in 2022 to $3,635 in 2023. This growth highlights the increasing consumer demand for entertainment experiences, which, in turn, is propelling the music festival market.
Key players in the music festival market are focusing on promoting homegrown events that highlight local and regional talent, offering unique experiences that resonate with audiences while supporting emerging artists and boosting regional economies through tourism and local businesses. Homegrown festivals primarily feature local or regional musicians and celebrate the unique cultural and musical heritage of a specific area. For example, in March 2024, Independent Music Platform (IMP), an India-based social networking community, launched the IMP X-Festival. This homegrown event features over 100 artists across 34 performances, with popular acts such as Indian Ocean and Agnee, along with emerging local talents such as Nawab Gang, Chowraasta, and Damini Bhatla. IMP plans to expand the X-Festival across India, promoting local talent in each city and fostering regional collaborations to create diverse musical experiences.
In June 2024, KKR & Co Inc., a US-based company, acquired Superstruct Entertainment Ltd for $1.43 billion (€1.3 billion). This acquisition allows KKR to expand its portfolio and leverage Superstruct's expertise in organizing music festivals. Superstruct Entertainment Ltd is a UK-based company known for its operations in the music festival industry.
Major players in the music festival market are Live Nation Entertainment Inc, Production Resource Group LLC, The Madison Square Garden Company, StubHub Inc, Eventbrite, SXSW LLC, Festival Republic Ltd, MaMA Music & Convention, Tait Towers LLC, Insomniac Holdings LLC, Superfly Productions LLC, Sziget Cultural Management Ltd, C3 Presents Ltd, AEG Presents Ltd, AV Concepts Inc, Goldenvoice LLC, Outback Presents LLC, Mediacorp Pte Ltd, Echoes of Earth, Music Fest, and ID&T.
North America was the largest region in the music festival market in 2024. The regions covered in music festival report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the music festival market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The music festival market includes revenues earned by entities by providing services such as live music performances, food and beverage services, and medical and security services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Music Festival Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on music festival market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for music festival ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The music festival market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.