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.