Market Report: Singapore
Despite criticism from representatives of neighbouring Southeast Asian territories, the furore over Singapore’s exclusive deal with AEG to host six nights of Taylor Swift’s Eras Tour in March has only further established the republic as a premier pitstop for international touring artists — with Dua Lipa, Olivia Rodrigo, and Take That still to come in 2024.
Primary ticketing
B2B/B2C ticketer SISTIC, long considered to have held a monopoly over the live event ticketing industry, is facing strenuous challenges in keeping its title as Singapore’s premier ticketer, having lost a slew of clients (including City of Dreams, Studio City, Sands China, Wynn Resorts, and SM Entertainment) in recent years. Popular alternatives, such as Ticketek, Ticketmaster, and B2B ticketer Total Ticketing, reflect the winds of change taking place in the market.
According to AEG’s Bryan Mosko, there’s been a mixed response to the use of dynamic pricing methods. “In many parts of Southeast Asia, including Singapore, consumers are used to the regional way of pricing and scaling of an event,” he says. “Ticket-buyers are cautious about any seats that may have a restricted view.”
“Ticket-buyers are cautious about any seats that may have a restricted view.”
Ticketmaster launched an initiative to promote security when buying tickets for events months in advance. “We launched Secure Tickets last November, giving fans confidence when buying well in advance and enhancing their experiences greatly,” says general manager Shawn Quek.
Distribution of sales
While physical tickets continue to dominate, digital are becoming more acceptable. “Digital ticketing has been picking up over the past year,” says Quek, whose company recently ended the option to buy from post office outlets.
Value of market
According to Statista, revenue is projected to reach $84m by the end of 2024, +2% year on year.
Secondary ticketing
Ticket scalping is not illegal in Singapore. The Consumers Association of Singapore has raised concerns that scalping could lead to price distortion and make tickets unaffordable for many. However, terms and conditions on tickets mean if a concert organiser discovers that a ticket-buyer has resold their ticket, they can seize or void it without providing a refund.
The Consumers Association of Singapore has raised concerns that scalping could lead to price distortion and make tickets unaffordable for many.
Ticketmaster has taken steps to combat and curb this malpractice in the form of its Resale scheme.
International/domestic splits & genres
Singapore is a small market in terms of audience numbers. The most popular genres are K-Pop, J-Pop, J-Rock, and C-Pop, as well as country, rock, and punk. Taylor Swift’s Eras and Coldplay’s World of the Spheres tours sold out, obviously, and international artists remain very popular.
Cultural analysis
According to Mosko, the Singaporean audience has a “clear affinity for singer-songwriters.” This is evidenced by the popularity of domestic and international artists when booking shows, as well as Chinese-language music being a “pillar of the musical community.”
The Singaporean audience has a “clear affinity for singer-songwriters.”
Additionally, given its proximity to other Southeast Asian countries, major shows and festivals in Singapore tend to attract fans from neighbouring nations, with Quek estimating “between 10% and 40% of fans” attend from Thailand, the Philippines, and Indonesia.
Taxes & charges
The Goods & Services Tax (VAT) is 7%. A withholding tax for international acts set at 10% has been in place since 2022.
Country Profile: Singapore
Singapore’s live music market has witnessed substantial growth in recent years, driven by a strong demand for mainstream pop and viral TikTok acts. With a young, tech- savvy population, streaming services and social media platforms play a critical role in shaping trends. However, the market is not without its challenges, including rising production costs and limited venue availability.
The appetite for live music in Singapore remains robust, especially among Gen Z who are leading the charge in concert ticket sales. Joanna Yuen, MD of Live Nation Hong Kong, says: “Mainstream pop, primarily in English, is dominating the market. TikTok trends are translating into the live entertainment scene, with viral acts selling well, particularly among the Gen Z demographic.”
Despite the strong demand, Yuen says there are a few challenges: “Some artists are returning to the market too quickly, especially due to a lack of venue availability. Show expenses, such as hotels, transportation, and production, are also rising.” And although demand for shows is high, available concert venues are limited, causing logistical bottlenecks for promoters.
“The crowd here is super diverse, and there’s a lot of energy that makes it a must-stop for global tours”
Nonetheless, 2024 has been a standout year for ticket sales in Singapore, with major artists performing to sold-out crowds. Shows for Coldplay, Bruno Mars, Olivia Rodrigo, Imagine Dragons, and viral sensation Laufey were all snapped up in record time.
“The crowd here is super diverse, and there’s a lot of energy that makes it a must-stop for global tours,” says Marco Rios, CEO of Singapore-based pan-Asian promoter, agency, and festival organiser Primuse Group. “Asia, in general, is growing fast as a go-to destination for artists, and Singapore is the perfect starting point because of its location and popularity. Plus, neighbouring countries like Malaysia and Indonesia are catching up quickly, and with China’s huge market, Singapore acts as a gateway to tap into these regions. It’s an exciting time for live music here!”
As the Singapore market matures, certain trends are emerging. Social media plays a pivotal role in promoting new talent. Additionally, streaming services help promoters gauge the interest of in-demand talent, according to Yuen.
However, the rapid rise of ticket prices and the cost of production have affected the accessibility of some shows. While A-list artists remain a sure bet, emerging artists sometimes struggle to sell tickets due to their lower visibility in the market.
When it comes to festivals featuring multiple acts, the key to success is continuing innovation in order to stay relevant in this competitive market.
When it comes to festivals featuring multiple acts, the key to success is continuing innovation in order to stay relevant in this competitive market.
While mainstream pop dominates, Singapore’s grassroots scene continues to nurture local talent, with venues like The Esplanade and The Star Theatre providing vital platforms for up-and-coming artists, and digital streaming services are expected to boost exposure for these artists in the coming years.
Yuen says the key to breaking a new act here is: “Having access to the artist and ensuring they have strong fan connections online maintained through consistent content will make for a successful launch and on-sale.”
Over the next 24-36 months, Singapore’s live music market is expected to see further growth, and Yuen is optimistic about the future: “The market is growing, and as social media and streaming platforms play a more prominent role, we’re confident that the demand for live entertainment will continue to increase.”
Arena Market: Singapore
Long renowned as a major hub in Asia’s live entertainment scene, Singapore’s standing was cemented when it was confirmed that it would be the only Southeast Asian country to host Taylor Swift’s colossal Eras Tour earlier this year.
Despite criticism from representatives of other territories in the region, the Singapore Tourism Board’s decision to subsidise an exclusivity deal with Swift promoter AEG reaped massive rewards. The 55,000-capacity Singapore National Stadium saw the megastar take the stage across six nights in March.
However, at arena level, acts tend to go for the National Stadium’s sister venue, the 34-year-old Singapore Indoor Stadium (15,000). Artists in 2024 include NCT Dream, Conan Gray, and Olivia Rodrigo.
In March 2024, the government announced plans to replace the venue as part of the its plan to transform the Kallang Alive Precinct around the Sports Hub, with a S$165m fund set up by the Ministry of Culture, Community, and Youth to attract and host major sporting events there. The timeline for construction was not yet announced at press time.