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.
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.
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.
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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