As concerts are in full swing we want to share venue insights for the 2022 season thus far. Sharing top metrics like $/head by venue capacity, % of attendance buying merchandise, and the continued decline of cash transactions as the industry moves cashless.
In our 2021 Year End Review we shared the overall average $/head for artist merchandise grew +53% since 2019. In the first six months of 2022 it is trending +5% above that.
Breaking it out by venue capacity shows how the growth in $/head isn't consistent based on size of venue. Small cap venues showed the largest growth when compared to 2021 and 2019. A primary driver of this is that several artists that normally play in mid-cap size venues played in <500 capacity venues in the first six months.
$/Head Breakout by Venue Capacity
Credit Card/Cash Payment Breakout
Cash transactions have continued to decline over the last few years, especially with venues going cashless. Of all venue transactions in 2019 credit cards made up 65%, in the first six months of 2022 it is at 90%.
Percent Of Attendance Buying Merchandise
In 2021 we highlighted that 19% of fans purchase merchandise. In the first six months of 2022 that number has grown to 21%. At the end of the season we will do a deep dive on how this season compares to 2021 and 2019, breaking it out by venue capacity.