Escalating external competition and tepid growth in alcohol expenditure have constrained revenue growth for the Karaoke Bars industry over the five years to 2019. Consumer spending has assuaged these factors somewhat, as renewed interest in high-end karaoke bars has stimulated consumer interest in urban areas. Console-based karaoke-style video games have grown in popularity because they can digitally track a player's performance and provide feedback. These apps and games are also relatively inexpensive and can be used almost anywhere. Each of these developments has lured consumers away from karaoke bars, which is particularly troublesome for industry operators.Over the five years to 2024, industry revenue is anticipated to return to decline, falling at a much faster rate than during the previous five-year period increase. As a means to counteract the industry's structural decline, karaoke bars are anticipated to more closely focus on their target markets in the years ahead, primarily individuals aged 35 and younger.
This industry includes bars that offer karaoke entertainment along with food and drinks. Karaoke is a form of interactive entertainment or video game in which amateur singers can sing along with recorded music (or a music video) using a microphone and public address system.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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