Are Higher Ticket Prices Impacting Fan Spend At Live Events?

Higher ticket prices created a lot of buzz in 2023 and continue to be a topic of conversation as we get into the festival and concert season this year. An added layer is the increased importance of the fan's experience. Over this past year has fan spending changed in regards to merchandise, food, and drinks at concerts and festivals? We take an updated look and break it down in this blog post.

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Concert Merchandise Stats

Are fewer fans buying merchandise at concerts?

No, since 2019 we have continued to see an increase in average $/head at concerts and festivals but in 2023 the percentage of fans buying merchandise averaged 21%, up from 20% in 2022 and 11% in 2019.

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% of Fans Buy Merchandise

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What is the current industry average $/head?

The current average $/head is $8.71, up from $8.16 in 2022.

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Average $/Head

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Is the current industry average $/head up across the board? Or only specific attendance groupings?

Attendance groupings ranging from 5-15K are slightly below the 2023 average with all others at least +5% higher than prior year.

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Average $/Head By Attendance Grouping

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Festival Merchandise Stats

Not only are more fans buying merchandise at festivals, but they are spending more as well with the average fan spending $66 (up 14% from 2022).

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Average Fan Spend On Merchandise At Festivals

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Festival Food and Beverage Stats

There continue to be comments around the cost of food and beverages at festivals increasing this year and impacting fan spend. And yes, both food and beverage pricing at festivals have increased in 2023 with the average food item up +21% and the average drink item up 7-20%, varying based on the type of drink.

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Average Festival Food Prices

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Average Festival Drink Prices

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Average Fan Spend On F&B

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Has this impacted how much fans spend per day at festivals?

No, fan spending is actually similar to 2022.

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The final thoughts

Having higher ticket prices translating to fans spending less at events is a legitimate concern and we've found it hasn't impacted fan interest and spending on merchandise. Trends are showing that fans are spending similar amounts on food and beverage to prior years so if prices are increasing they may buy fewer items to make up that same total spend.

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Cheers!

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