Data forecasted by Statista and presented by Bettingsites.co.uk predicts revenue for the Metaverse Live Entertainment industry will grow 92% by 2030.
The Live Entertainment market refers to the virtual and augmented reality technology on the market which creates an immersive experiences for live performances. This would include events like theatre shows, virtual concerts, and stand up comedy.
The events can be attended by users in the metaverse, who can interact with other users and the performers in real time.
The Market Volume is Projected to Hit $460m by 2030
The Metaverse market value is projected to rise to $460 million by 2030, compared to the current figure of $240 million in 2023 (representing a 92% increase in value).
Number Of Users Expected To Reach 3.2 million In Next 7 Years
The number of consumers using Metaverse Live Entertainment is expected to reach 3.2 million in the next 7 years, growing by 39% by 2030.
A representative for BettingSites.co.uk commented on the data, “Current trends for live entertainment in the metaverse include virtual concerts and music festivals, virtual theatre and live performances, virtual reality experiences, interactive and gamified experiences, virtual reality social events, the use of blockchain technology, and hybrid events.
“These trends may involve the use of virtual reality technology to create immersive and interactive experiences for users, and the use of blockchain technology to create and manage virtual assets such as virtual concert tickets and virtual merchandise. Additionally, live events are also being held both in-person and in the metaverse, allowing users to attend events either in person or virtually, depending on their preference.”