The appetite for live entertainment in the UK and Ireland remains strong despite the cost-of-living crisis and the threat of recession, according to a new report.
Ticketing marketplace Tixel and entertainment marketing agency Bolster joined forces to produce the newly published Big Ticket Items report into Ticketing State of Play 2024, which offers a deep dive into how ticket buyers are spending.
The study tackles ticketing trends, the impact of fandom and FOMO and the aftermath of the pandemic, as well as expectations around flexibility, last-minute purchasing and event genres.
It also offers insights and commentary from specialists such as Association of Independent Festivals CEO John Rostron, Black Deer Festival co-founder Gill Tee, El Dorado festival director Kate Osler, Ticketsellers & Eventree CEO Phil Hayes and Wild Paths director Benjamin Street.
“The challenge lies more internally with increasing production costs, not decreased consumer spending”
“Despite rising ticket prices, consumer spending on events remains buoyant,” says Hayes. “The challenge lies more internally with increasing production costs, not decreased consumer spending.”
Among the report’s findings are that three-quarters of event goers are attending more, or the same amount of events as last year, with live entertainment and events remaining a priority expense for almost half (48%) of attendees. Furthermore, a third of respondents suggest it is a similar priority to other expenses, with Gen Z scoring highest in this regard.
Fandom is the dominating driving force for ticket purchases for almost 80% of respondents, while over two-thirds say they are more likely to make a purchase if there is an option to re-sell later.
Festivalgoers were shown to be more likely to attend a festival that has a real sense of community, in addition to the lineup being a high motivator. The full report is available here.
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