Year on year growth of music streaming revenue worldwide. 4. January 4, 2022. https://studycorgi.com/the-international-music-festival-event-industry-as-a-business-environment/. Pop Music Festival, Rock Music Festival, Hip-hop Music Festival, Electric Dance Music Festival, Others, Pioneer DJ, Steinway & Sons, Gibson Brands, Fender Musical Instruments, Yamaha, Roland, Kawai Musical Instruments, Denon DJ, Numark Industries, North America, Europe, Asia Pacific (APAC), Latin America, Middle East And Africa (MEA), 2016to 2020 (Depending on availability, data from 2010 can be offered). 1. This article is the second chapter of our analysis of the Chinese music industry, dedicated to the country's live performance market. 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. . 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. StudyCorgi, 4 Jan. 2022, studycorgi.com/the-international-music-festival-event-industry-as-a-business-environment/. Identify the strategic priorities of top firms to establish tactical efforts. The convenience and personalization of music streaming, combined with the accessibility afforded by smartphones and smart devices, has driven recorded musics growth. In general, rights last for 70 years after an authors death. Market Research Store is a single destination for all the industry, company and country reports. 4.2 Industry Analysis. Lower advertising spending has also impacted terrestrial radio, although the pullback may be reversing. Avissawella: Nerdynaut. The report study delivers a critical assessment on the music festival by segmenting the total addressable market based on products, applications, and region. 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 . Its view is corroborated by Goldman Sachs, which projects live music revenue to decrease 75% in 2020 before recovering in 2021 or 2022. How A.I will shape all the aspects of the Music Industry. Music Business Jobs is the most effective way for the global music industry to find the best candidates for their open positions. Additionally other reports have found that 44% of the incoming tourist . Perera, R. (2020) Understanding Porters five forces analysis. This helped us understand existing market dynamics like supply-demand imbalance, pricing trends, product preferences, consumer behavior, and other factors. 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. 1. They sign performing artists and songwriters and help them create and monetize new music. Final Price. Learn . A report on UK music says in 2012 UK music tourism generated 1.27 billion for the UK economy (UK music, 2013, p.42) also in a report by UK awards, it says that around 2.2 billion are generated only by live music events for the UK economy (UKFA market report, 2013, p.24). 308 qualified specialists online. Source: HuffPost analysis of festival lineups. The global music market is expected to witness a CAGR of 8.5% in the forecast period (2021 - 2026). Editing, one of the segments analyzed in the report, is Read More, on the top 140 companies, including ANGLO MANAGEMENT MUSIC LTD, BOLD MANAGEMENT LTD and DISCIPLINE GLOBAL MOBILE LTD. 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 . "The live music industry is cyclical and tours are often booked around release dates or other major events, so . 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. Ultimately it is not a question of how music festivals can be more sustainable but when. The report offers an up-to-date analysis Read More, Oct 08, 2022|Published by: Bizwit Research & Consulting|USD 4,950, is anticipated to grow with a healthy growth rate of more than 7.5% over the forecast period 2022-2029. Their answers show distinct improvements in the outlook for live events (though after the last two years . 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). Automation will reshape music marketing as the music market grows more crowded. It becomes a part of the culturenot just another event.. (2017) Towards an adapted MHP strategic capabilities model for moderating challenges to quality music festival management, International Journal of Event and Festival Management, 8(2), pp. Digital Ledgers vs. 47.3%. Travel restrictions combined with the limited availability and costs of flights is going to severely restrict where artists can travel. Get Free Sample. 32 million people go to at least one music festival every year. Before signing the licensing deal, the NMPA claimed that approximately 50% of the music publishing market was unlicensed with TikTok. The global music community has never been more connected, and fans and artists alike are seizing the opportunities of this new era to enjoy and share the music they love. Theyve invested and partially own many festivals, which gives [festivals] the longevity and continuity that gives them a brand, he says. 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. Furthermore, the study encompasses a market attractiveness analysis, which provides the most attractive and least attractive market segments information by products, applications, and region. The music recording industry presents a great example of how businesses must continually transform and adapt to change. Music Festival Market Key Industry Analysis. The report has analyzed both developed & developing regions considered for research of the music festival market. The report is assembled to comprise qualitative and quantitative elements of Worldwide Music Festival industry including: market share, market size (value and volume 2015-2020, and forecast to . Income. 1 Its essentially kind of drowned out in many ways because everybody is picking up on this concept. Despite its seeming ubiquity, streaming is still in the early innings of mass adoption. 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. Goldman Sachs Music in the Air analysis notes that paid streaming penetration rates in China and India are currently 4% and 3%, respectively. https://studycorgi.com/the-international-music-festival-event-industry-as-a-business-environment/. inquiry@globalmarketers.biz; UK: +44 33 3303 4979; US: +1(806)4400782; Home; Industries. Since then, due in large part to streaming, revenue has grown to $20 billion in 2019, back in line with 2004 levels. For example, US musical composition mechanical royalties are regulated by the Copyright Royalty Board (CRB), a panel of three judges who determine music royalty rates and terms over a period of time. The Music Festival Market report provides the historical as well as present growth factors of the global market .The report contains 121 Pages with financial data achieved from various. 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. 7 Some industry statistics include: 32 million people go to at least one music festival every year; 14.7 million of those 32 million are millennials; 903 miles is what people travel on average to attend . Similarly, the three largest music publishers - Sony (25%), Universal Music Publishing (21%), and Warner Chappell Music (12%) - maintain a 58% share of the music publishing market. This paper was written and submitted to our database by a student to assist your with your own studies. 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. Detailed analysis of key players, along with key growth strategies adopted by Music Festival industry, the PEST and SWOT analysis are also included. Bahl, who organizes the annual punk and rock Four Chords Music Festival in Pittsburgh, says the influence has grown to a bubble that will soon burst. The music industry has reached at a global in a way it was never before. This latest report studies Music Festival Industry market 2020 research report is replete with precise analysis from radical studies, specifically on queries that approach Market size, trends, share, forecast, outlook, production, and futuristic developments trends and present and future market status. Music publishers in the US were estimated to have an annual expense of $2.36 billion. Interesting trends of industry. This report includes a wealth of information on the financial trends over the past four years. Please Wait. Wall Street has been taking notice of the music industrys secular growth story. Regarding the festival event industry, the political environment involves the political stability of the countries from which artists and concert visitors come, as well as the monetary and foreign trade policies (Perera, 2017). "The International Music Festival Event Industry as a Business Environment." While COVID-19 has created several challenges, the industry is holding up relatively well with several new licensing opportunities on the horizon. 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. They become something thats ingrained into the culture.. He's advised businesses ranging from pre-revenue startups to $1+ billion public companies in a broad range of industries. 2. A Sample Music Festival Business Plan Template. Pestle Analysis Of The Music Industry. Yet music is also a large global business towards our economy. But the music festivals that have achieved a cultural cache are unlikely to recede from relevance anytime soon. The global music event market size was valued at $152.2 billion in 2021 and is projected to reach $481.4 billion by 2031, growing at a CAGR of 9.7% from 2022 to 2031. A SWOT analysis is a business technique that describes the current strengths, weaknesses, opportunities and threats related to a product and its market. In recent years, billions of dollars have been raised, privately and publicly, to invest in music intellectual property rights and the companies that own them: Meanwhile, several private equity firms have raised funds focused on music IP rights: Overall, there is a significant amount of activity in the equity and debt capital markets for music IP assets. 3.Analysis Of The Factors In Music Festivals (PEST Analysis) 3.1 Political Factors: Since the Licensing Act of 2003 all festivals . More income and new, better ads for artists. Safety. This report covers activities such as rights, digital content, master use, spanish course, synchronization and includes a wealth of information on the financial trends over the Read More, Oct 01, 2022|Published by: Plimsoll Publishing Ltd.|USD 1,500, APPLE CORPS LIMITED, BMG RIGHTS MANAGEMENT GMBH and CARO EMERALD B.V.. The report covers a detailed analysis and forecast for the global music festival market on a global and regional level from 2021 to 2028. StudyCorgi. Furthermore, the following chart from Goldman shows how little is currently spent per capita on music in emerging markets relative to developed markets. In short, the report will provide a comprehensive view of the industry's development and features. How the way we consume music will change. The most important element to a festival is safety. Global Music Recording Industry Revenues: 2001-2019 ($ Billion). The music festival market is not an exception. Over the years, the market has adapted well to the many changes. Such devices offer movability and are important in concerts and live performances. The music industry has experienced a dramatic turnaround over the past five years. This tool is helpful in the evaluation of a business (Perera, 2017). 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. Record labels and music publishers are the traditional investors in the space. After piracy and unbundling drove 15 years of revenue decline, the global industry has returned to growth, primarily due to streaming. Market Desk For Trending Market Research. 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 . Music royalty fund formation has increased significantly over the past several years. In 2019, for example, the festival will include six events . 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 democratization of music creation. Now, theres 14 and Pittsburgh is such a small marketso imagine how that translates into other markets. According to IFPIs 2019 Global Music Report, China was the seventh-largest music recording market, and India was not even in the top 10, despite having the worlds two largest populations. At the same time, Chapter 3 includes the highlighted analysis--Strategies for Company to Deal with the Impact of COVID-19. 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. 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. The publication of music sometimes requires the leasing of music as intellectual property, so that it can be used in live performances and beyond. At the end of last year, we surveyed more than 4,500 event organisers to get a sense of the latest trends in event planning and what their COVID event risk assessments looked like for the months and years ahead. 151-171. 117. 24.3%. 1. On the basis of Products, the market can be classified into Pop Music Festival, Rock Music Festival, Hip-hop Music Festival, Electric Dance Music Festival, Others. As music festivals have taken off in popularity, these kids of experiences have become a key feature of cultural life in America. Sleeping in a tent for days to catch a glimpse of Beyonc making history at Coachella. The recent outbreak of the COVID-19 pandemic in 2020 negatively impacted the music event industry. Our experts can deliver a customized essay. Live Nation also controls, or partially controls, festivals like Lollapalooza and Austin City Limits, among several dozen others. The global Music Festival market report is a compre. We cover all genres of music. The report provides an in-depth overview of the supplier analysis,competitive landscape, and major industry strategies that will help businesses obtain a competitive advantage in the industry. The effects of the pandemic would be studied and analyzed for short-term and long-term scenarios. Market Research The socio-cultural dimension deals with the culture, tradition, and religion of different countries. "The International Music Festival Event Industry as a Business Environment." COM is definitely the smartest way to go. The technological environment presupposes favorable technical arrangements and accessibility to the necessary equipment, especially that connected with sound and video effects. The epidemic of COVID-19 has caused significant economic and social upheaval. The global industrys revenue bottomed out at $14 billion in 2014 but grew to $20 billion in 2019, back in line with 2004 levels. Audio, one of the segments analyzed in the report, is projected to record 14.8% CAGR . The 2022 Event Trends Report. . Then there are the behind the scenes professionals and staff that offer assistance and representation. For instance, a manager oversees the career of the artist and earns a percentage of whatever the artist makes. Spotify Monthly Active Users (MAUs): 2017-2020 (Q2). 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 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. The report provides market size for all the segments and their categories for regions that include North America, Europe, Asia Pacific (APAC), Latin America and the Middle East & Africa (MEA). The music industry has benefited from the growth of streaming services, which have been the main driver of global music recording revenue growth since 2015. Predictions suggests it will reach between 1.5 billion and 2 billion monthly users, after a 59.8 per cent growth in 2020, and a 40.8 per cent uptick in 2021. For music labels, streaming margins are generally higher (50-60%) than physical music products (40-50%). This report covers activities such as music, rights, recording, film music, composers and includes a wealth of information on the financial trends over the Read More, a revised size of US$189.1 Billion by 2027, growing at a CAGR of 6.5% over the analysis period 2020-2027. 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. next >, Receive bi-weekly email alerts on new research. From the above analysis . Music festival business is grouped under the Concert & Event Promotion industry and players in this industry create, manage and promote live performances and events, ranging from concerts and theater performances to state fairs and air shows. The study provides an in-depth analysis of market segments, sub-segments, and the regional prognosis for the market in consideration.

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