While inflation stabilises, ticket prices for concerts and festivals continue to rise, driving market value growth. Looking ahead, technical development will likely help music concert and festival brands to create engaging experiences long-term, contributing to value growth.
Concert and Festival Market – Current Landscape
The number of Germans willing to pay to attend music concerts/festivals in the next 12 months, has decreased by 6% points compared to the 12 months to April 2024. This means that concert/festival brands need to step up efforts to engage Germans.
With slowing inflation, some consumers have more money to spend on music concerts and festivals. In fact, over 7 in ten of Younger Millennial and Gen Z music event attendees plan to spend more money on music festivals/concerts in the next 12 months compared to the last 12 months, indicating that concerts/festivals can upsell more luxurious experiences to them.
However, ticket prices have risen dramatically, forcing less affluent Germans to continue to cut on spending. Lesser-known artists and festivals therefore struggle with low attendance, whereas big-name artists often sell out quickly, despite high prices.
While many attend a concert/festival to see a particular band or act, nearly half of future attendees cite other factors, resulting in significant opportunities to create holistic, leisure experiences. Fostering the social aspect through fan interaction, promoting factors beyond music like the atmosphere or incorporating additional offers (e.g. healthy food or cultural programs) can add memorable elements to the event.
Concert and Festival Market – Statistics
- Festival market market size: Mintel estimates the retail value sales of the concert and festival market reached €4.6bn in 2023.
- Festival market growth: The concert and festival market saw a growth of 5.3% between 2022-23, attributed to high ticket prices.
- Concert market trends: 38% of Germans paid to attend music concerts/festivals in the 12 months to April 2024.
- Concert and festival market trends: 54% of consumers site that seeing a particular band/act is the main reason to attend concerts/festivals.
Concert and Festivals Market Report – What’s Inside?
Key Topics Analysed in the Report
- The short-, medium- and long-term impact of inflation/supply chain issues on the music concerts and festivals market.
- Attendance rates at music concerts and festivals, and engagement with livestreams, with a focus on younger generations as the most engaged consumers, and opportunities to broaden target groups.
- Future participation and reasons to attend music concerts and festivals and how brands can up attendance rates.
- Interest in additional offers and upselling opportunities for music concert and festival brands.
- Behaviours towards music concerts and festivals.
Market Scope
For the purposes of this Report, Mintel examines the value of concerts and festivals from 2019-29, and the market forecast and prediction intervals for retail value sales of music concerns and festivals between 2024-29.
Readers of this report may also be interested in our German Attitudes towards Spectator Sports Market Report, or our range of German Market Research.
Meet the Expert Behind the Analysis
Silvia explores and writes about German consumer and market trends on the topics of Travel & Leisure. Before joining Mintel, she worked in sports administration and tourism consulting. With her academic background in the field of tourism management and sports and health sciences, she adds significant knowledge of scientific research to her reports.
Slowing inflation presents upselling opportunities to concert and festival brands. Offers such as VIP seats or festival glamping will attract the most engaged younger audiences, creating unique memories.
Silvia Hondt
Research Analyst – Travel & Leisure
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EXECUTIVE SUMMARY
- The five year outlook for music concerts and festivals
- Market context
- Ongoing tough economic times are fuelling competition between leisure brands
- The intersection of values and music
- Emerging tech trends in the German music event market
- Mintel predicts
- Market size & forecast
- Rising ticket prices will continue to drive value growth
- Opportunities
- Cater to younger generations as your key target group…
- …and tap into upselling opportunities
- Turn small-to-large concerts and festivals into holistic experiences
- Make events more inclusive to broaden target groups
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MARKET DRIVERS
- The German economy
- 2024 is expected to remain challenging
- Graph 1: key economic data, in real terms, 2019-25
- The inflation rate is bouncing back to more conventional levels
- Inflation is still the key factor affecting consumers’ finances…
- …confidence and expenditure
- Graph 2: financial confidence index, 2022-24
- The impact of the economy on music concerts and festivals
- Prices for cultural events are on the rise
- Graph 3: consumer price index for visits to a cinema, theater, concert, circus, 2019-24
- Entertainment and leisure expenditures vary across generations…
- Graph 4: expected changes in consumer spending habits on leisure/entertainment in 2024 compared to 2023, by generation, 2024
- …and financial situations
- Aligned values
- Values are shaping music
- Transforming markets: showcase commitment to environmentalism
- Graph 5: perception of own environmentally-friendly lifestyle, 2024
- Demonstrate solidarity with overlooked population groups
- Graph 6: population groups believed to be overlooked or underrepresented in Germany – NET, 2023
- Music events can celebrate DEI
- Tech and digital entertainment
- AI is driving the development of the music market
- Graph 7: understanding of AI*, 2023
- Blended real-world and digital experiences
- Experience economy
- Intensify in-person experiences
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WHAT CONSUMERS WANT AND WHY
- Participation in music concerts and festivals
- Change is needed
- Focus on younger generations as a key target group
- Keep Younger Millennials engaged longer term…
- Graph 8: number of concerts attended in the last 12 months NET, by generation, 2024
- Graph 9: number of festivals attended in the last 12 months NET, by generation, 2024
- …and address Gen Z as a promising target group
- Up attendance among older generations
- Promote smaller events to resonate with older music event attendees…
- Graph 10: attendance rate at music concerts paid to attend in person in the last 12 months, by generation, 2024
- Promote smaller events to resonate with older music event attendees…
- Graph 11: attendance rate at music concerts paid to attend in person in the last 12 months, by generation, 2024
- …and address older generations’ needs
- Support mothers to attend music events
- Engage less affluent Germans with different payment models
- Be inspired by ‘pay what you can’ models
- Events watched via music livestreams
- Adapt livestreams to younger generations…
- Graph 12: events watched via livestream in the last 12 months, by generation, 2024
- …with more engaging livestreams
- Position streams as a safe and comfortable alternative
- Future participation in music concerts and festivals
- Future music event attendance rather looks gloomy
- Offer spontaneous booking options…
- …and encourage consumers to plan ahead
- Reasons to attend music concerts and festivals in person
- Music events need more than the artists
- Graph 13: reasons to plan to attend music concerts/festivals in person, 2024
- Leverage fandom to create a social setting
- Promote music events as special experiences
- Help Baby Boomers to escape everyday life
- Appeal to festival visitors with factors beyond music
- Graph 14: reasons to plan to attend music concerts/festivals in person, by type of planned music event, 2024
- Interest in additional offers at music concerts/festivals
- Stand out with additional offers to upsell to consumers
- Tap into healthy eating and the alcohol moderation trend
- Graph 15: reduction of alcohol consumption in the last 12 months, 2023
- Engage Gen Z and Baby Boomers alike with diverse cultural offers
- Cater to younger generations who intend to spend more on music events….
- …and upsell with more luxurious events…
- …and exclusive content
- Enhance music experiences with wellness offers…
- …and emerging tech
- Behaviours towards music concerts and festivals
- Embrace the buzz around festivals and concerts
- Graph 16: behaviours towards music concerts and festivals, 2024
- From less known to popular artists: create unique concert experiences
- Collaborate with influencers and streamers to create awareness
- Demonstrate your values to resonate with event visitors
- Foster an inclusive music event market with diverse line-ups
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LAUNCH ACTIVITY AND INNOVATION
- Coldplay’s sustainability update
- The sphere in Las Vegas as a cutting-edge venue
- Snap is enhancing music events
- Advertising and marketing activity
- Glücksgefühle festival – more than music
- The Hurricane promotes the festival feeling…
- …and the Hurricane Resort
- Taylor Swift’s Eras tour as a testament to her popularity
- DHLxColdplay: pioneering eco-conscious tour logistics
- Rock am Ring will celebrate its anniversary in style
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MARKET SIZE, Segmentation AND FORECAST
- Price increases are driving growth
- Market value is back on track
- Rising ticket prices will continue to drive value growth
- Price increases will continue to drive value growth short term
- Growing attendance mid-term will sustain value growth
- Emerging technologies will impact the market long term
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APPENDIX
- Appendix – products covered, abbreviations, consumer research methodology and language usage
- Products covered in this Report
- Abbreviations
- Consumer research methodology
- A note on language
- Appendix – market size and central forecast methodology
- Forecast methodology
- Forecast methodology – fan chart
- Market size – value
- Market forecast and prediction intervals – value
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