The democratization of music creation. Business. These assessments help users of the report to analyze the music festival market on the basis of different metrics that includes brand loyalty, switching costs, capital investments, economies of scale, regulatory legislation, current sales networks, production rights and patents, customer preferences, and promotional effects. This categorized data is expected to aid industry stakeholders in decision-making.The study also suggests company penetration plans for new entrants. The findings would be further affirmed and expanded upon through primary research conducted with industry professionals and decision-makers from around the world. Enterprise $7320. Qantas Airways Limited: Contemporary Accounting Issues. Technological advances driven by streaming have ushered in a period of growth. Almost all the music events were either canceled or postponed for indefinite . Then there are the behind the scenes professionals and staff that offer assistance and representation. Artists. Jimmy has executed and evaluated $1+ billion in debt, equity, and M&A transactions across a range of industries. Coachella, one of the most popular festivals in the country, grossed $114.6 million in 2017, setting a major record for the first recurring festival franchise to earn more than $100 million. Everybody is doing it.. Jump to. After piracy and unbundling drove 15 years of revenue decline, the global industry has returned to growth, primarily due to streaming. Editing, one of the segments analyzed in the report, is Read More, Oct 01, 2022|Published by: Plimsoll Publishing Ltd.|USD 400, AUDIBLE LTD, HACHETTE UK LTD and PENGUIN BOOKS LTD. COM is definitely the smartest way to go. The pandemic has had an influence on the supply chain and value chain of numerous businesses. In some cases, a SWOT analysis can uncover unexplored product and marketing . The publication of music sometimes requires the leasing of music as intellectual property, so that it can be used in live performances and beyond. Which market fluctuations have an effect on the business most? Retrieved from https://studycorgi.com/the-international-music-festival-event-industry-as-a-business-environment/, StudyCorgi. It reached one billion in September 2021 while the last Australian figure . In the strategy analysis, it gives insights from marketing channel and market positioning to potential growth strategies, providing in-depth analysis for new entrants or exists competitors in the Music Festival industry. Global Music Recording Industry Revenues: 2001-2019 ($ Billion). Consider the target demography when classifying possible new clients or partners. For instance, a manager oversees the career of the artist and earns a percentage of whatever the artist makes. 29th Dec 2020. Then, theres the flipsidenot all music festivals are meant for the mainstream, and not all programmers want the influence of big promoters. Events refer to public gathering of populace art at a determined time and place. Digital Synthesizers, one of the segments analyzed in the report, is projected to record Read More, < prev Synchronization grew 2.1% and totaled $337 million, up from $330 million. It becomes a part of the culturenot just another event.. The report study delivers a critical assessment on the music festival by segmenting the total addressable market based on products, applications, and region. 4 If you keep using the site, you accept our. By continuing to use this site you agree to our, Forensic Accounting: Due Diligences Secret Weapon, Supply Chain Lessons and Opportunities: Notes on a Crisis, Tell a Compelling Story: Pitch Deck Components That Persuade, Successful SaaS Fundraising: Navigating the Evolving Landscape. Public Address Equipment, one of the segments analyzed in the Read More, projected to reach a revised size of US$688.5 Million by 2027, growing at a CAGR of 2.3% over the period 2020-2027. Analyze the Music Concert external competitive environment to identify opportunities and threats. 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 Global Medium Sized Music Festival Market Share analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. 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. Examples include Universal Music, Sony Music, Warner Music Group, and BMG, to name a few. (2022, January 4). Note: For fewer than 1 percent of the acts in festival lineups in the last five years, we could not determine the gender breakdown, and those acts are not included in these charts. 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. 2022 TIME USA, LLC. Since then, due in large part to streaming, revenue has grown to $20 billion in 2019, back in line with 2004 levels. Music Festival Market Share, 2022 Industry Demand Overview, Global Players Survey, Emerging Technologies, In-depth Analysis, Development Strategy, Future Growth, Trends and Forecast 2029 Published . Get Free Sample. Additionally, the report also covers the exhaustive regulatory landscape, technology landscape, value chain analysis and PEST analysis. iHeartMedia, the owner of 800+ AM/FM radio stations, saw an even larger impact than Sirius XM, with Q2 2020 sales declining 47% year-on-year. Scribd is the world's largest social reading and publishing site. In some instances, royalty funds have also signed artists and songwriters to release new music, blurring the line between them and traditional labels and publishers. 20% of festival goers attend an average of five to six festivals . The article will review the main levers that active investors use when attempting to increase music IPs value, the potential pitfalls to look out for, and the instruments used for IP investing. 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). As a result, capital is flowing into music IP investing, with acquisition activity remaining high. For the full year, Sirius XM management expects total company sales to decline by 3%. As streaming becomes one of the most popular ways to listen to music, sales of tickets and merchandise make up the bulk of fans expenditures on music. The music industry has experienced a dramatic turnaround over the past five years. Yet music is also a large global business towards our economy. The report covers a detailed analysis and forecast for the global music festival market on a global and regional level from 2021 to 2028. For example, in July 2020, the National Music Publishers Association (NMPA) reached a licensing agreement with TikTok, a platform with roughly 100 million US monthly active users and 700 million worldwide monthly active users. In 2020, the global music festival market demand was registered at XX (USD Million) and is predicted to reach XX (USD Million) at a CAGR of XX% by 2028. Operations in the international music festival event industry are highly complicated due to involving a large number of participants, venues, managers, and visitors. If the trend continues, China and India will increasingly grow as a revenue source for the industry. Request the coronavirus impact analysis across industries and markets. When consumers purchase the music, the retailers pay the recording company, who then pay the artist and publishing company, who then pays the composer. The convenience and personalization of music streaming, combined with the accessibility afforded by smartphones and smart devices, has driven recorded musics growth. This report covers activities such as music, entertainment, artist management, music promotion, concert and includes a wealth Read More, ARLON SONGS LTD, BDI MUSIC LTD and BROADBENT & DUNN LTD. Music royalty fund formation has increased significantly over the past several years. Audiences are keen to connect to the artist, he says. How can I apply for sample report of Music Festival Industry? Email Us: [email protected] Contact Us: +1(857)445 0045; Skip to main content; Skip to footer; Market Desk. When I started Four Chords, there were two other big [festivals], he says. 1. The unique nature and the diversification of our sources of income mean music publishers are well protected compared to most businesses., Josh Gruss, CEO of Round Hill Music (Source). This helped us understand existing market dynamics like supply-demand imbalance, pricing trends, product preferences, consumer behavior, and other factors. (2022, January 4). Festivals in Scotland. In 2019, for example, the festival will include six events . Sleeping in a tent for days to catch a glimpse of Beyonc making history at Coachella. A possible solution is to curate more local talent. Short-form videos (e.g., TikTok and Triller), e-fitness (e.g., Peloton), and other platforms (e.g., Facebook) are just starting to license music IP from rightsholders, creating new sources of future monetization. Between 2007 and 2019, global live music revenue grew by 5% annually. 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. Bahl says festival organizers quickly caught on to the spike in artists taking to the road and decided to pay them more to appear at their events. Putting on a festival is a challenge, between having to pay artists enough to secure their performances, needing to sell a certain number of tickets in order to be successful, the additional costs of insurance and the risks of bad weather. The International Music Festival Event Industry as a Business Environment. Consumer GoodsTravel & LeisureEntertainment. Mobile Games, one of the segments analyzed in the report, is projected to record a 6.2% Read More, Oct 01, 2022|Published by: Kentley Insights|USD 295, of the retail sector in the United States with over 100 data sets covering 2012-2026. January 4, 2022. https://studycorgi.com/the-international-music-festival-event-industry-as-a-business-environment/. The analysis based on the PESTLE system and Porter's five forces will enable the assessment of the business environment and potential profitability of the international music festival event industry. Furthermore, the music festival industry study report has listed the main manufacturers and distributors operating in all the major regions. Universal, Sony, and Warner are collectively referred to as the Majors, or the Big Three. Industry concentration is relevant in music because the majors deals with streaming services benefit from their market share: As streaming services revenues grow, so should the majors income. The report will also provide an extensive product portfolio for each company along with detailed descriptions/features. Opportunities for Music Festival can be obtained from things such as: . October 2022. The study comprises a comprehensive view . These dominant industry players use well planned strategies to occupied highest market share in this market. Their organizational capacity helps to manage ticketing and other factors that come into play in organizing a festival. The music festival market is not an exception. 1. In addition to being seen by over 300,000 monthly unique readers online, our listings are also emailed direct to more than 50,000 professional subscribers every week - across the US, UK, Europe, Asia-Pacific and . The music recording industry presents a great example of how businesses must continually transform and adapt to change. Market Research 47.3%. Fixed deposits, fixed payout, principal intact. We keep offering new experiences, from front-row viewing to VIP experiences, to embracing new technology, Smiley tells TIME. Strengths -The advancement in technology has made provision of the services in this industry easier. Open navigation menu. The music industry has reached at a global in a way it was never before. . The booking agency promotes the artist and gets the live performance setup. The music recording and publishing industries have many players. Industry market research reports, statistics, analysis, data, trends and forecasts. Simon, A., et al. The growth of digital streaming has allowed consumers to access and enjoy music regardless of social distancing restrictions. In short, the report will provide a comprehensive view of the industry's development and features. The report covers a detailed analysis and forecast for the global music festival market on a global and regional level from 2021 to 2028. Event goers. This article is the second chapter of our analysis of the Chinese music industry, dedicated to the country's live performance market. Such devices offer movability and are important in concerts and live performances. Coachella, one of the most popular festivals in the country, grossed $114.6 million in 2017, setting a major record for the first recurring festival franchise to earn more than $100 million . Automation will reshape music marketing as the music market grows more crowded. This report includes a wealth of information on the financial trends over the past four years. Thank you!Check out your inbox to confirm your invite. Global Music Festival Market COVID-19 Worldwide Impact Report 2022 to 2029 with Forthcoming Developments Spread Across 121 Pages, Emerging Trends, Revenue . Based on the Applications, the market can be segmented into the Tickets, Sponsorship, Merchandising. Social distancing restrictions have severely impacted the live music market. One of business segment of music is the. The following statistics highlight how the market still has room to expand: Music royalty payments derive from the underlying intellectual property (IP) rights of songs. The average industry growth of independent label music production in the US from 2014 to 2019 is 2.5%. IFPI notes that global streaming revenues grew at a 42% CAGR (compound annual growth rate) since 2015, compared to the entire recording industrys 9% CAGR. The aim of the report is to assess the music festival market in UK, to offer and study the competitors and present an extensive industry analysis of the UK music festival industry. Please Wait. The report includes a detailed segment analysis of the music festival market based on products, applications, and region. The biggest market share in the industry belongs to independent labels with 41.4%. Music Business Jobs is the most effective way for the global music industry to find the best candidates for their open positions. Another music industry professional is a promoter, who is hired to assist with live music performances. The Festival Industry - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. Our customer base is really eight to 80 [in age], Smiley says. The data for the market and its segments & categories are provided from 2016 to 2028. The economic environment presupposes commercial regulations within and between countries. Some of the key players in the music festival market include: Due to the existence of multiple significant competitors, the industry is very competitive. The recent outbreak of the COVID-19 pandemic in 2020 negatively impacted the music event industry. "If the world is experiencing a great . 8 According to the International Federation of the Phonographic Industry (IFPI), recorded music revenue returned to growth in 2015, after nearly two decades of piracy-driven declines. These publishing entities collaborate with recording artists and studios in order to create music media. As music festivals have taken off in popularity, these kids of experiences have become a key feature of cultural life in America. Several positive catalysts for music IP rightsholders are currently on the horizon, including: There are new licensing opportunities for music IP owners that are just starting to emerge. Find industry analysis, statistics, trends, data and forecasts on Festivals in the UK from IBISWorld. Crowding into a park for a surprise performance that turns out to be Dolly Parton at the Newport Folk Festival. Large corporate live music promoters, such as Live Nation or AEG Live, have, in recent years, acquired hefty controlling stakes in some of the countrys biggest festivals. The study comprises a comprehensive view of the market with a review of market drivers, restraints, and opportunities. Performance rights revenue was the fastest growing sector in the music industry, rising 9.4% to $943 million, up from $862 million in 2011. 3 Ultimately it is not a question of how music festivals can be more sustainable but when. Even the niche festivals that might have more genre-specific lineups have to compete for audience attention. 10 Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2015-2025) of the following . The origins of music festivals date back to ancient Greece, where such events often involved competitions in music, arts and sports. Medium Sized Music Festival Industry Analysis and Market Research Report | Crediblemarkets.com Global Medium Sized Music Festival Market Research Report 2021 - Impact of COVID-19 on the Market | Credible Markets 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. The music festivals must pursue such an aim if they do not wish to be sued by governmental or non-governmental organizations, volunteers, and activists of various natural movements. In May 2020, Goldman Sachs estimated the entire music industry's revenue (live, recorded, and publishing) to increase from $62 billion in 2017 to $131 billion in 2030, representing a 6% CAGR. Digital Ledgers vs. The Music Festival Industry market report focuses on world major leading industry players . Universal Music Group was the only label to see revenue increase year-on-year up to June 30, 2020 (+6%), while Sony (-12%) and Warner Music Group (-5%) reported declines. 1. The socio-cultural dimension deals with the culture, tradition, and religion of different countries. Published Date. How the way we consume music will change. In general, rights last for 70 years after an authors death. Look up music festival near me, and youre likely to find one within at least a few hours drive. 308 qualified specialists online. Use of this site constitutes acceptance of our, Digital Finally, a regression analysis will test for variables that may be influencing prices in order to predict price trends we may expect in future years. For instance, the retailing, manufacturing and wholesaling occurs in one place, and the production of the music takes place somewhere else. * Hyperlink the URL after pasting it to your document, Organizational Behavior Business: HR Dilemma, Employing Strategy in a Competitive Environment. The 2022 Event Trends Report. The global Music Festival market report is a comprehensive research that focuses on the overall consumption structure, development trends, sales models and sales of top countries in the global . 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). Music Festival Market Key Industry Analysis. Of the 20 shows the Offspring is playing the remainder of this year, about 15 are at music festivals. 2 Magazines, Dolly Parton at the Newport Folk Festival, Or create a free account to access more articles, How Music Festivals Became a Massive Business in the 50 Years Since Woodstock, Column: Adidas Initial Silence on Kanye West. Next, an overview of the data and discussion of price trends will follow. Restaurants, hotel managers and convenience stores prepare for festival season weeks beforehand, bringing on part-time employees, extending business hours and raising prices. Oct 01, 2022 | Published by: Global Industry Analysts | USD 5,450. . Industry Overview. A Sample Music Festival Business Plan Template. "The International Music Festival Event Industry as a Business Environment." Some of the top players in Music Festival business includes. Selecting Leading Manufacturers might help you determine mergers and acquisitions more effectively. While COVID-19 has created several challenges, the industry is holding up relatively well with several new licensing opportunities on the horizon. 2.3 Music NFT Market Drivers Analysis 2.4 Music NFT Market Challenges Analysis 2.5 Emerging Market Trends 2.6 Consumer Preference Analysis 2.7 Music NFT Industry Development Trends under COVID-19 . Which are the dominant player engaged in the Music Festival industry? Machine learning will change everything. Identify the strategic priorities of top firms to establish tactical efforts. 4 January. His Neighbors Sued Him, How Black Filmmakers Are Reclaiming Their History Onscreen. STEP 5: PESTEL/ PEST Analysis of Music Festival Case Solution: Pest analyses is a widely used tool to analyze the Political, Economic, Socio-cultural, Technological, Environmental and legal situations which can provide great and new . Furthermore, the following chart from Goldman shows how little is currently spent per capita on music in emerging markets relative to developed markets. Final Price. Furthermore, streaming and digital download margins are roughly 50-60%, compared to physical margins of 40-50%, lower due to manufacturing and distribution costs. The report come up with a segment of the Music Festival market based on Type, Region, and Application, Also offer a determined view on the Music Festival market. In the US alone, there are 800 music festivals. Compiled together in one spreadsheet, the info gleaned from posters offers a snapshot of the music industry and the festival business, revealing this summer's biggest draws and hardest workers . This segment come up with analysis of major players in the Music Festival market, also their last five-year revenue, segmental, product offerings, key strategies adopted and geographical revenue produced. PEST Analysis of. Their answers show distinct improvements in the outlook for live events (though after the last two years . The music industry comprises of a variety of firms, companies and independents. In short, the M&A market is very active, with BMGs CEO Hartwig Masuch even calling the current environment a feeding frenzy.. The report has analyzed both developed & developing regions considered for research of the music festival market. Other sources of music income, especially live music, have suffered during the pandemic. next >, Receive bi-weekly email alerts on new research. Though it was not the first event of its kind (the Newport Folk and Jazz Festivals, Milwaukees Summerfest and the Monterey Pop Festival predate Woodstock), the 1969 event holds a mythical place within American pop-cultural history. More income and new, better ads for artists. The retailers then sell this media to the general public. Chirinos says that through help from large music conglomerates, festivals like Coachella and Bonnaroo have become akin to household brand names. Unlike companies responsible for small events, the international industry has to predict and try to avoid the risks associated not only with the artists but also with transportation, ticket selling, weather conditions, and many other factors. The global music recording industry is back in growth territory again. In Chapter 5 and 14.2, on the basis of applications, the Music Festival market from 2015 to 2025 covers: Tickets Sponsorship Merchandising. Costs include potential refunds of up to 800m for events that were due to take place this summer across the UK festival industry at large, and average non-recoupable costs of 375,000 per . Live Nation management expects concerts to return to scale by summer 2021. Published: Jan-2021 | Format: PDF | Maia Research | Number of pages: 104 | Code: MRS - 781072. Music Festival Market Analysis. Market Research Store (MRS) published a latest report titled Music Festival Market research report which is segmented by Products (Pop Music Festival, Rock Music Festival, Hip-hop Music Festival, Electric Dance Music Festival, Others), by Applications (Tickets, Sponsorship, Merchandising), by Key Players/Companies (Pioneer DJ, Steinway & Sons, Gibson Brands, Fender Musical Instruments, Yamaha, Roland, Kawai Musical Instruments, Denon DJ, Numark Industries). Allied Market Research published a report, titled, "Music Event Market By Revenue Source (Tickets, Sponsorship, Others), By Genre (Rock, Pop, EDM, Others), By Type (Music Festivals, Music Concerts . Global Music Festival Market Industry Growth, Size, Share and Key Players Profile by Forecast to 2031. Choose License. 32 million people go to at least one music festival every year. COVID-19 Impact Analysis (A completely separate Chapter), Market size in terms of revenue from 2016 to 2028, Market size for each segment from 2016 to 2028, by Region, Market Attractiveness Analysis for all the segments, Market Drivers, Restraints, and Opportunities, Competitive Landscape and Company Market Shares, Drivers, Restraints, Opportunities and Recent Trends of the music festival market, Structure of the market and projections for the next few years, Market situation for each segment and region, An evaluation of upstream raw materials, downstream demand, and existing market dynamics is carried out, Company Market Shares, Competitive Landscape, SWOT Analysis, and Product Specification. The report offers a nitty-gritty estimation of the market by providing data on various viewpoints that incorporate, restraints, drivers, and opportunities threats. Thats what we try to offer., The Newport Folk Festival, which started back in 1959, is another one that has managed to adapt enough to remain a draw to crowds without compromising its vision to meet to attract corporate sponsorships. Will Page, the former chief economist at Spotify, estimates that the global publishing business - CISAC collections plus estimates of non-CISAC publisher revenues from Music & Copyright - is worth $11.7 billion in 2020. And alongside their rise in popularity, hundreds of smaller, niche or genre-specific festivals have flourished. As a result, royalties paid by radio stations to Performance Rights Organizations (PROs) will likely fall sharply over the next couple of quarters. Lower advertising spending has also impacted terrestrial radio, although the pullback may be reversing. Learn how to gather and analyze strategically essential competitor data and resources to develop effective R&D strategies. Advance tickets for 2019s Coachella sold out in about two-and-a-half hours, an hour faster than they sold out in the year prior, the Palm Springs Desert Sun reported. 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. According to RIAA statistics, the blossom of the industry began with the comparison of offline and online sales. Recent years have seen several significant deals: Since going public in July 2018, Hipgnosis Songs Fund has also spent more than $1 billion, acquiring more than 60 catalogs. Global overview. The 2030 estimate was an increase on its original prediction of $104 billion, made in October 2016. Theyve invested and partially own many festivals, which gives [festivals] the longevity and continuity that gives them a brand, he says.

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