A 2019 Deloitte survey of millennialsa group that makes up at least 45% of the 32 million people who attend music festivalsfinds that most value experiences: 57% of respondents said they prioritized travel and seeing the world over owning a home. Next, an overview of the data and discussion of price trends will follow. Magazines, Digital Before signing the licensing deal, the NMPA claimed that approximately 50% of the music publishing market was unlicensed with TikTok. Business Process Optimization Consultants, The figure represents less than 11% of the 3.2 billion global smartphone, According to the Digital Media Association, the US market had 99 million paid streaming, In May 2020, Goldman Sachs estimated the entire music industrys. The basic information, as well as the . 10 Music Festival. Can Music Festivals Dance To A Sustainable Tune? - Sound of Life Global Music Festival Market - Industry Reports Between 2007 and 2019, global live music revenue grew by 5% annually. For music labels, streaming margins are generally higher (50-60%) than physical music products (40-50%). Copyright 2014 - 2022 Market Research Store - Market Research Reports . Sleeping in a tent for days to catch a glimpse of Beyonc making history at Coachella. Music Festival Market 2022 Size Research by Business Opportunities, Top Manufacture, Industry Growth, Industry Share Report, Regional Analysis and Forecast to 2029 Published: Sept. 26, 2022 at 3: . These publishing entities collaborate with recording artists and studios in order to create music media. In the strategy analysis, it gives insights from marketing channel and market positioning to potential growth strategies, providing in-depth analysis for new entrants or exists competitors in the Music Festival industry. We cover all genres of music. Some of the key players in the music festival market include: Due to the existence of multiple significant competitors, the industry is very competitive. Automation will reshape music marketing as the music market grows more crowded. projected to reach a revised size of US$83.3 Billion by 2027, growing at aCAGR of 16.4% over the period 2020-2027. One of business segment of music is the. SWOT Analysis of the Music Industry | Bizfluent Goldman Sachs projects global live music revenue to decrease 75% in 2020 before recovering in 2021 or 2022. Even the niche festivals that might have more genre-specific lineups have to compete for audience attention. Despite the gulf in spending, IFPI reported strong 2019 recorded music revenue growth in China and India of 16% and 19%, respectively, attributed to progress in copyright enforcement and streaming adoption. Are Music Festival Lineups Getting Worse? | Pitchfork Music Industry - SlideShare Music Festival Case Study Solution & Analysis - casequiz.com Within the United States there is a tremendous demand among celebrities, music groups/musicians, and other artists to gain market visibility through events and promotion. The statistical data of the dominant industry player of Music Festival market can be acquired from the company profile segment described in the report. So that model is super integral as to why artists and agents are focusing so hard on music festivals.. Interesting trends of industry. We anticipate that this analysis and data will assist industry players to strengthen their networks of market penetration and expand their geographical breadth as a result of their efforts. The report provides exhaustive information on all the key players in the industry based on company overview, company market share, recent developments, business strategies, and financial performance among others. PEST Analysis of Music Festivals in Scotland by Rebecca Reid - Prezi The convenience and personalization of music streaming, combined with the accessibility afforded by smartphones and smart devices, has driven recorded musics growth. It's common for a recording artist to hire multiple people to assist with his or her career. NMPA - VP of Research and Industry Analysis (US) According to RIAA statistics, the blossom of the industry began with the comparison of offline and online sales. Global Music Festival Market - 360 Market Updates (2022) 'The International Music Festival Event Industry as a Business Environment'. The legal environment has to do with regulations and guidelines, which the events managers must get acquainted with and conform to if they want to avoid complications. Spotify Monthly Active Users (MAUs): 2017-2020 (Q2). Festivals have since evolved from the DIY, communal spirit of Woodstock, growing into mainstream businesses that reap profits and embrace corporate sponsorships, as more than 32 million people attend them each year, according to Billboard. In this assignment I will divide the question into two parts. The events industry size was valued at $1,135.4 billion in 2019 and is expected to reach $1,552.9 billion by 2028, registering a CAGR of 11.2% from 2021 to 2028. "The International Music Festival Event Industry as a Business Environment." Chapter 3 focuses on analyzing the current competitive situation in the Music Festival market and provides basic information, market data, product introductions, etc. For the full year, Sirius XM management expects total company sales to decline by 3%. TheFinanceResource.com - Free Music Festival Business Plan The report study delivers a critical assessment on the music festival by segmenting the total addressable market based on products, applications, and region. This would assist to formulate business strategies for the period during the pandemic as well as the post-pandemic period for all stakeholders involved in the industry including suppliers, manufacturers, vendors, distributors, and end-users. Additionally, the report also covers the exhaustive regulatory landscape, technology landscape, value chain analysis and PEST analysis. Summerfests 2019 roster included Lionel Richie, The Killers, Jennifer Lopez, Billie Eilish, Lil Wayne, Snoop Dogg and The Nationala diverse enough group that does not rely on one genre or type of artist. Music Festivals: A Secondary Market Analysis - Claremont Colleges We will be sending you the sample copy of the report shortly. 3.Analysis Of The Factors In Music Festivals (PEST Analysis) 3.1 Political Factors: Since the Licensing Act of 2003 all festivals . Consumer GoodsTravel & LeisureEntertainment. . Perera, R. (2020) Understanding Porters five forces analysis. Music Spend per Capita Across Regions: 2015 (USD). The Music Festival market is expected to grow from USD X.X million in 2020 to USD X.X million by 2026, at a CAGR of X.X% during the forecast period. Music Synthesizers Market Research Report by Type, Distribution Channel, Region - Global Forecast to 2027 - Cumulative Impact of COVID-19. Both the Coachella and Stagecoach music festivals created 3,000 temporary jobs and brought $254 million into the Indio, California economy in 2012. Now, theres 14 and Pittsburgh is such a small marketso imagine how that translates into other markets. are: Trends. To assist firms in developing effective development strategies, the regional analysis section provides a complete overview of the industry from a number of countries and regions. This data can help in making suitable decisions for stakeholders before investing. How can I get analytical data of dominant industry player of Music Festival market? Music streaming services from companies such as Amazon and Apple (both based Read More, Oct 15, 2022|Published by: Barnes Reports|USD 179, on the size of the industry (sales, establishments, employment) nationally and for all 50 U.S. States and over 900 metro areas. COVID-19 Outbreak-Global Music Festival Industry Market Report Retrieved from https://studycorgi.com/the-international-music-festival-event-industry-as-a-business-environment/, StudyCorgi. Live Nation management expects concerts to return to scale by summer 2021. The study includes a detailed competitive scenario and product portfolio of key vendors. The most important element to a festival is safety. At the start of the pandemic, audio streaming saw a decrease in listening hours as consumers drove less and focused on other platforms (e.g., video streaming) and forms of entertainment (e.g., TV and video gaming). The technological environment presupposes favorable technical arrangements and accessibility to the necessary equipment, especially that connected with sound and video effects. Everybody is doing it.. 32 million people go to at least one music festival every year. Most music publishing rights are regulated, and recent regulatory announcements have been beneficial to music IP rightsholders interests. industry in order to lay a theoretical framework from which to approach the festival ticket secondary market. Music Festival Business Plan [Sample Template for 2022] - ProfitableVenture The report can help to understand the market and strategize for business expansion accordingly. Music itself has changed, as well, making festivals a bigger attraction for listeners. A recent study found that the music industry is responsible for $1.4 billion in revenue for the state, with live events like ARISE generating $489.8 million of that revenue and almost a third of all music industry employment (Seman 2018). Economic factors affecting festivals are: Recession. For artists, appearing at music festivals is an easier way to make money than depending on record sales or long tours, says Rishi Bahl, a musician and marketing professor at La Roche College in Pittsburgh, Pa. As record sales saw a steep decline in the early- to mid-2000s thanks to the growth of digital music, artists began depending on touring to earn money. In some cases, a SWOT analysis can uncover unexplored product and marketing . Scribd is the world's largest social reading and publishing site. Individual, one of the segments analyzed in the report, is projected to record 15.7% CAGR Read More, BLUE SAPPHIRE LTD, EMUBANDS LTD and NEW WORLD MUSIC LTD. In the US alone, there are 800 music festivals. The socio-cultural dimension deals with the culture, tradition, and religion of different countries. The retailers then sell this media to the general public. This report covers activities such as music, records, record, lable, cd and includes a wealth of information on the financial trends over the past four Read More, year 2020, is projected to reach a revised size of US$11.4 Billion by 2027, growing at a CAGR of 2.2% over the analysis period 2020-2027. U.S. Music - Statistics & Facts | Statista 7 We also have our data forecasting algorithm that projects market growth over the year 2028. According to Music & Copyright, the three largest record labels - Universal Music Group (32% market share), Sony Music Entertainment (20%), and Warner Music Group (16%) - hold a 68% share of the music recording market. Copyright provides its owner(s) with exclusive rights for a period of time. The Festival Industry - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. . Sirius XM, the satellite and digital radio broadcaster, saw total company sales decline 5% year-on-year in Q2 2020, driven by a 34% decline in advertising revenue. The International Music Festival Event Industry as a Business Environment. The Global "Music Festival Market" Report provides a detailed analysis in 121 Pages of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, key trends, market drivers, challenges, standardization, recent developments, opportunities analysis, strategic market . Web. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire Read More, Oct 11, 2022|Published by: TechNavio|USD 2,500, Our report on the events industry market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. Music industry revenues have held up relatively well compared to other industries during the COVID-19 pandemic. Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2025) of the following . Phone: 800.298.5699 (US) or +1.240.747.3093 (Int'l), Hours M-Th 3:00am - 6:30pm EST; F 3:00am - 5:30pm EST, Copyright 1999-2022, All Rights Reserved, MarketResearch.com, 2023 U.S. Musical Groups & Artists Industry-Industry & Market Report, 2023 U.S. Software and Other Prerecorded Compact Disc, Tape and Record Reproducing Industry-Industry & Market Report, 2023 U.S. Music Publishing Industry-Industry & Market Report, Music Publishing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027), Online Event Ticketing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027), Global Music Publishing Market Research Report 2022 - Market Size, Current Insights and Development Trends, Global Music Publishing Market Size study & Forecast, by Royalties (Performance, Synchronization, Digital Revenue, and Physical Revenue), and Regional Analysis, 2022-2029, Music Publishing (GLOBAL) - Industry Report, Music Management & Promotion (UK) - Industry Report, Book, Periodical & Music Stores - 2022 U.S. Market Research Report with Updated Forecasts, Record Stores - 2022 U.S. Market Research Report with Updated Forecasts, Music Distributors (UK) - Industry Report, Coronavirus Disposable Medical Gloves Market Size, Impact of COVID-19 on Hand Sanitizer Market. 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