The study of 1,500 concert-goers shows fan passion — and spending — is at an all time high.
The concert business is set to close out another record year fueled by pent-up pandemic demand, higher priced tickets and intense fan commitment to their favorite artists.
Driving the enthusiasm for concerts, Kessler explains, are millennials, now in their mid 20s to early 40s, who have “consistently and substantially shown a desire to want to engage in collaborative and communal experiences as a group.” The survey also found that more fans are traveling for events than ever before, with half of respondents traveling four hours or more to attend a concert, 39 percent have flown within the U.S. to attend a show, and 30 percent have traveled to another country for a live music event.
Unsurprisingly, debt is fueling a large part of consumer spending. The survey found that more than one-third of fans had used a buy-now, pay later service to buy tickets, while 34% have opened a credit card specifically for a concert or music festival presale.
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