Industry Analysis & Industry Trends
The Event Promotion and Management Services industry is forecast to be worth $3.8 billion in 2013-14, up 1.1% for the year. This is in contrast to an expected annualised revenue decline of 0.5% over the past five years. The industry has fallen prey to the weak economic conditions that have afflicted the Australian economy in the aftermath of the global financial crisis. Spending on events is discretionary in nature, as hosting events and purchasing tickets are never essential. A combination of low business confidence, slow growth in household discretionary income and a steadily rising household savings ratio led to a gradual revenue decline for event managers, event promoters and ticketing agencies... purchase to read more
Industry Report - Industry Key Buyers Chapter
Market share concentration within event promotion and management services is low, as the top four industry players account for less than 40% of industry revenue. The low market share concentration reflects the variety of specialised industry segments. The diversity of the industry means that no particular company is dominant within the entire industry, but some are dominant within their segment. Examples include Ticketek and Ticketmaster, which together dominate the ticketing agency segment with exclusive ticketing rights agreements and strong industry reputations.
Outside of ticketing agencies, low barriers to entry into event promotion and management services has led to a large number of owner-operators participating in the industry... purchase to read more