A lot of people missed live music when the pandemic shut down the concert industry for much of 2020, but now that touring is back, it certainly seems fans are running to experience live music again.
A new LendingTree survey finds:
- 26% of Americans plan to head to a summer concert or festival this season.
- Another 12% already have plans to do so in the fall.
- 29% say that while they don’t have plans yet, they would like to go to a concert this year.
- People with concert plans are likely to attend an average of four shows this year, which is similar to pre-pandemic averages.
But all these concerts won’t be cheap.
- The average concertgoer will spend between $100 and $400 on shows.
- 32% of attendees expect to spend $500 or more.
- And not having the money isn’t stopping a lot of people from seeing their favorite artists.
- In fact, 26% of concertgoers say they’ll take on debt to be able to go to their shows.
- Gen Z (41%) and Millennials (31%) are the most likely to take on debt to see their shows.
- They are also the most likely to say that debut is “definitely” worth it.
- Of course, tickets aren’t cheap, and some concertgoers are willing to pay a pretty penny to make sure they get good seats.
- 28% say they’ll spend more to get good seats for a show.
- The average person is willing to spend $328 for good seats to see their favorite artist.
And it’s not just the ticket price that’s hurting concertgoers’ wallets.
- Concertgoers also plan to spend money on:
- Food and drink (60%)
- New outfit (32%)
- Merchandise (27%)
- Hotel and vacation rental (27%)
- Plane tickets (14%)
- VIP passes (13%)
- Drugs (8%)
- Meet and greets (7%)
Source: LendingTree