The music tourism market is expected to progress bit by bit, with a projected CAGR of 9.2% over the forecast period. As of 2024, it is valued at USD 6,440 million and is anticipated to exceed USD 15,527.9 million by 2034, reflecting a 2.4X increase in market value.
With the emergence of countless music festivals around the globe, music tourism has gained a great deal of attention. This has significantly impacted the music tourism industry. Many people now travel long distances to attend these festivals. Accordingly, the number of tourists visiting festival locations has increased.
International visitors help the local economy of host cities. Hotels, restaurants, and local businesses gain from more tourists. The different music genres and unique experiences at these festivals make them very appealing. At present, music tourism is not only about attending live performances. It also includes visiting music-related attractions like museums, studios, and historic sites.
Music Tourism Industry Assessment
| Attributes | Description |
|---|---|
| Estimated Global Music Tourism Market Size (2024E) | USD 6,440 million |
| Projected Global Music Tourism Market Value (2034F) | USD 15,527.9 million |
| Value-based CAGR (2024 to 2034) | 9.2% |
Music fans travel from one place to the other to see their favorite bands and artists perform live. Therefore, tours and concerts by popular artists with big fan followings drive tourism in those places. When popular artists go on tour, their fans follow them to different cities and countries. This movement of fans generates significant tourism activity, benefiting the locations where concerts are held.
With the rise of social gatherings and rising young generations interested in concerts, the market is likely to see an increase in demand for these events. Young people enjoy attending music events with friends. This trend is driving the popularity of concerts and festivals. More young tourists mean more demand for music-related travel.
The longing to discover diverse cultures and musical genres is surging. People are increasingly interested in combining their love for music with travel. This trend leads to a growing demand for music tourism. Travelers seek out destinations known for their vibrant music scenes and cultural diversity, further enriching the industry.
With advances in technology, music enthusiasts have a greater chance of discovering and accessing new music. Technology makes it easier for people to find new artists and songs. This encourages them to explore music events and destinations. More discoveries lead to more travel for music experiences. The integration of technology, like virtual experiences and live streaming, also boosts industry growth.
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The table compares how much the music tourism market could grow every six months from 2024 to 2034. It also shows how these new predictions compare to older ones from 2023 to 2033.
| Particular | Value CAGR |
|---|---|
| H1 | 8.4% (2023 to 2033) |
| H2 | 8.9% (2023 to 2033) |
| H1 | 9% (2024 to 2034) |
| H2 | 9.4% (2024 to 2034) |
In the earlier analysis, the industry was predicted to progress at a rate of 8.4% each year in the first half of the previous forecast decade, from 2023 to 2033. Then, this rate was expected to increase slightly to 8.9% in the second half of that period. From 2024 to 2034, the growth rate of music tourism is estimated to start again at 9% annually and then rise further to 9.4% in the second half of this period.
Cities Cash In on Music Tour with Special Packages and Merchandise
Every year, millions of music lovers travel across the world to attend popular music festivals like Glastonbury, Coachella, Tomorrowland, Afrochella, Sunburn, Montreux Jazz Festival, and Ultra Music Festival.
Taylor Swift’s Eras Tour is currently the top music tourism attraction worldwide. This tour, with over 150 shows on five continents, started in March 2023 and is scheduled to end in December 2024 in Vancouver, Canada. It’s the biggest and most talked about tour ever, surpassing Elton John’s farewell tour.
Cities hosting Taylor Swift's performances are drawing fans from all over the world, leading to a significant increase in passenger traffic compared to previous years. Local businesses and hotels are taking advantage of the influx of tourists by offering themed merchandise, experiences, and packages inspired by Swift.
Gen Z and Millennials Drive Music Tourism Boom through Social Media
With the growth of social media influence, the music tourism market is expected to grow rapidly. Social media creates a lot of buzz about big music events of popular stars, making them seem like "must-see" or "once-in-a-lifetime" experiences. This is also prevalent for music concerts as well which appeals to the demand for tourism related to it. This attracts most artists’ fans, especially Gen Z and Millennials, who love pop culture and travel.
With social media, influencers promote music destinations, and global streaming platforms help people discover new artists, making them want to see these artists live. Another important factor is that since artists can't visit every place, the chance to see a famous artist live and enjoy an exclusive concert experience strongly attracts travelers. This leads to more tourists visiting different places for concerts and festivals.
Music Tourists Seek Unique Experiences at Underground Concerts and Local Gigs
Music tourists often attend underground concerts, local gigs, or workshops to find unique and niche musical experiences. These events offer something different from mainstream concerts. They attract tourists who are looking for special and unique music experiences. This variety helps in diversifying the industry.
The local music scene can be experienced authentically and intimately through these experiences. Attending local gigs and workshops allows tourists to connect with the local culture. They get a true feel of the place through its music. This creates a deeper and more meaningful travel experience.
Principal Consultant
The music tourism market size was USD 4,235.9 million in 2019 and USD 5,913.7 million in 2023. Taking into account the CAGR of 8.7% from 2019 to 2023, it can be inferred that investment and development opportunities are set to remain promising to some extent.
During the historical period, online platforms helped spread awareness about concerts and festivals. Easier access to tickets encouraged more people to travel for music events. The spread of musical interest and the development of online communities can be attributed to streaming platforms, social media, and online communities. These platforms helped people connect over shared music interests. They also promoted music events and destinations. This widespread interest boosted music event tourism.
During the forecast period, virtual and hybrid event models offer a big opportunity for market players. Organizers can satisfy many different preferences by offering virtual experiences that are easy to access alongside in-person events. This makes music events reach more people beyond just where they happen, bringing in a bigger and more varied audience.
Collaborating with local tourism entities is another great opportunity. Organizations can do joint campaigns together and create special packages that mix music events with local cultural and tourist spots. This kind of collaboration helps both sides. It boosts tourism for the area hosting the music events and gives music tourists more to do and see while they're there.
Tier 1 companies lead the music tourism market. Big names like Live Nation Entertainment, AEG Presents, Eventim, SFX Entertainment, and The Madison Square Garden Company dominate a large part of the industry. They bring in USD 2,956.9 million, which is 50% of the global industry share.
These companies are famous for their strong presence and influence in organizing top music events worldwide. Their influence shapes trends and sets standards in the industry, driving its growth and popularity.
Tier 2 companies include C3 Presents, Festival Republic, Superstruct Entertainment, MAMA & Company, and Goldenvoice. They hold around 40% of the global industry value share, worth USD 2,365.5 million.
Although not as large as Tier 1 companies, these Tier 2 companies are appreciated for their expertise in organizing diverse music festivals and events. They differentiate themselves from Tier 1 companies by focusing on niche markets and fostering community-oriented events.
Tier 3 companies comprise Bonnaroo Music and Arts Festival, Insomniac Events, T4F Time For Fun, Brooklyn Bowl, and Secret Sounds. While not as noticeable as Tier 1 and Tier 2 companies, they still produce a decent revenue of USD 591.4 million, making up 10% of the industry.
What sets them apart is their focus on creating unique and niche music experiences, often targeting specific demographics or genres within the industry. They are good at creating lively community vibes and supporting new artists, adding variety and creativity to music concert tourism.
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Recent trends in the music tourism market across Europe, Asia Pacific, and North America are discussed below. In North America, the United States leads the industry and is expected to progress at a CAGR of 5.7% through 2034. In Europe, the United Kingdom is at the forefront, with a projected CAGR of 5.9% through 2034.
In Asia Pacific, India is emerging as a key player in the industry. It is expected to grow faster than China and Japan, with a CAGR of 18.7% compared to China's 14.4% and Japan’s 13.8% through 2034.
| Countries | CAGR 2024 to 2034 |
|---|---|
| United States | 5.7% |
| United Kingdom | 5.9% |
| Japan | 13.8% |
| China | 14.4% |
| India | 18.7% |
The United States has one of the world’s biggest music industries, impacting music tourism in significant ways. More than 30 million people attend at least one music festival in the United States each year. As of 2022, the United States music industry generated USD 43 billion in revenue from concert ticket sales, streaming subscriptions, and advertising. This substantial revenue base supports a thriving music tourism market.
The 5.7% CAGR reflects that the industry in the United States has reached a stage where it continues to grow steadily but at a pace that aligns with its established status in the industry. The maturity suggests that most opportunities for growth have been explored, and the industry is operating at a stable level without significant expansion.
In the United States, beyond the dominant Live Nation and AEG live music tours, venues and festivals are struggling to stay afloat. Factors contributing to their struggles include tough competition from large-scale tours for limited ticket sales, changing post-pandemic behaviors like reduced outings, and rising costs for both artists and venues.
The United Kingdom's rich musical history, including bands like The Beatles, The Rolling Stones, and Queen, has a big impact on the industry. Tourists from all over the world visit Abbey Road Studios, a historic site linked to these iconic artists.
The country is also known for hosting top-notch live performances, which makes it a popular destination for music tourists. Top music festivals like Reading, Glastonbury, Leeds, and Download draw huge crowds and bring in a lot of tourism money.
The country's music tourism suffered during the pandemic, but tourists are returning for key events slowly. Some of these include tours by top British artists like Dua Lipa, Stormzy, Harry Styles, Ed Sheeran, and Elton John. As a result, the future projection of the music tourism market in the United Kingdom indicates a moderate CAGR of 5.9%.
The India music tourism market outlook looks bright as it is forecasted to expand at a CAGR of 18.7%. India hosts around 25 top music and food festivals annually, drawing about 1.5 million attendees from around the world. Music tourism has become a norm and this trend reflects a growing indulgence among young people and travelers, boosting the overall tourism industry in India.
India has also been a host to various international music festivals featuring renowned artists in recent years. Popular festivals like NH7 Weekender held across multiple cities and Sunburn in Goa (an EDM event) continue to see growing attendance and popularity. These festivals contribute significantly to industry in India.
Lollapalooza is a festival boosting music tourism worldwide. Lollapalooza's newest addition is a two-day event in Mumbai, India, its first in Asia. The Indian music industry has historically lacked the United States and European acts due to pricing; tickets average USD 20. In contrast, Mumbai tickets are USD 92.
BookMyShow, however, promoted the tour in India, which was very popular, and helped bring Justin Bieber and Ed Sheeran to tour in India. The festival in Mumbai hosted over 35,000 people each day. Hence, this kind of music events generate significant revenue for India's economy and supporting industry growth.
This section elaborates on dynamics observed in the music tourism market based on its top segments. In terms of type, the international music segment is estimated to dominate by holding more than 2/3rd of the industry share, which is 67.2% in 2024. By tourist type, the pay to visit category is projected to fortify its position as the champion by obtaining more than half of the industry share, which is around 59.1%, in 2024.
The international music segment dominates because it attracts fans from all over the world. People travel to see concerts and festivals featuring famous international artists. These events often take place in iconic venues or cities known for their music history, like London, Nashville, or Rio de Janeiro. International music tours and festivals offer diverse genres, appealing to a wide audience. Fans are willing to travel long distances for unique performances and cultural experiences.
| Segment | International Music (Type) |
|---|---|
| Value Share (2024) | 67.2% |
Social media and streaming platforms also increase awareness of international artists and events, encouraging fans to travel for live music experiences. For instance, fans have been sharing lots of videos, pictures, and updates this year. They've been posting about Coldplay's Music of the Spheres tour and Taylor Swift's The Eras Tour. The global appeal of these events helps cities and countries boost tourism.
Music events range from large festivals to intimate concerts by popular artists. Fans are willing to pay for tickets to see their favorite musicians perform live. Events like Coachella, Glastonbury, and Tomorrowland attract huge crowds annually, showcasing diverse music genres and top-tier artists. Pay to visit events often offer more than just music, including food, art, and cultural experiences, making them attractive for travelers seeking entertainment and leisure.
| Segment | Pay to Visit (Tourist Type) |
|---|---|
| Value Share (2024) | 59.1% |
These events are heavily promoted through social media, drawing global attention and encouraging fans to plan trips around them. Cities hosting these events benefit from increased tourism revenue, as attendees spend on accommodation, dining, and local attractions.
The music tourism market statistics report indicates that several brands have emerged as leaders by implementing various strategies. AEG Worldwide focuses on venue management and event promotion globally. LiveStyle emphasizes electronic music festivals and events to attract a niche audience.
Live Nation Entertainment integrates concert promotion, ticketing, and artist management to offer comprehensive music experiences. Global Spectrum L.P. specializes in venue management across a wide range of events. Venu Works Inc. focuses on community-centric event management and venue operations.
To stay ahead, key players focus on highlighting their unique strengths and offerings. ID&T Belgium is known for organizing large-scale electronic dance music festivals in Europe. SFX Entertainment targets electronic music festivals globally, fostering a vibrant community. Percept Ltd. in India organizes diverse music events and festivals catering to local tastes. Only Munch Louder specializes in intimate and exclusive music experiences. TAG Group offers luxury music tourism packages and concierge services.
In the competitive landscape of the music tourism market, top companies focus on organizing music-focused travel experiences. ACFEA Tour Consultants focuses on organizing music-focused travel experiences, combining cultural exploration with live music events. These brands leverage their expertise in venue management, event organization, artist relations, and audience engagement to dominate the industry globally.
In terms of type, the industry is bifurcated into local music and international music.
Based on tourist, the industry is divided into pay to visit and get paid to visit
Depending on industry vertical, the industry is categorized into music tourism, fashion tourism, food tourism, sports tourism, medical tourism, and others.
A regional analysis of the music tourism market is conducted across North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, and the Middle East and Africa
The industry is set to reach a valuation of USD 6,440 million in 2024.
A CAGR of 9.2% is projected for the industry through 2034.
Opportunities worth USD 15,527.9 million by 2034 is estimated.
International music segment to account for a significant industry share in 2024.
India is predicted to be an investment hotspot for investors and stakeholders.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
5.1. Type
5.2. Industry Vertical
5.3. Tourist
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
6.1. Local Music
6.2. International Music
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Industry Vertical
7.1. Music Tourism
7.2. Fashion Tourism
7.3. Food Tourism
7.4. Sports Tourism
7.5. Medical Tourism
7.6. Others
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Tourist
8.1. Pay to Visit
8.2. Get Paid to Visit
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
9.1. North America
9.2. Latin America
9.3. Western Europe
9.4. South Asia and Pacific
9.5. East Asia
9.6. Middle East and Africa
10. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
11. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
12. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. South Asia and Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. Sales Forecast 2024 to 2034 by Type, Industry Vertical, and Tourist for 30 Countries
17. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
18. Company Profile
18.1. AEG Worldwide
18.2. LiveStyle
18.3. Live Nation Entertainment
18.4. Global Spectrum L.P
18.5. Venu Works Inc.
18.6. ID&T Belgium
18.7. SFX Entertainment
18.8. Percept Ltd.
18.9. Only Munch Louder
18.10. TAG Group
18.11. ACFEA Tour Consultants
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