April 26th, 2024 | Alex

The Latest Trends in Live Event Attendance

In an insightful analysis of consumer behaviour within the live event sector, a recent report from Tixel and Bolster sheds light on how event-goers are navigating the challenging economic landscape of 2023.

Here’s a deeper look at some of the key findings and what they suggest about the current state of the industry.

Maintaining Events Attendance Amid Economic Strain

Despite the economic pressures of a cost of living crisis, a significant 75% of event-goers have maintained or increased their attendance at live events compared to the previous year.

This statistic underscores a robust commitment to live experiences, indicating that cultural and entertainment events remain a priority for many.

increasing engagement at events

Changing Ticket Purchase Patterns

The timing of ticket purchases has seen a shift, with 25% of attendees buying tickets later than in previous years, while 51% have not changed their buying habits.

Interestingly, 13% are now purchasing their tickets earlier.

This variation in behaviour highlights the different strategies consumers are adopting to manage their finances and commitments.

The Resale Factor

Flexibility in ticket resale is becoming increasingly important, with 68% of attendees more likely to purchase tickets if they have the option to resell them easily.

This trend reflects a growing demand for purchase flexibility, allowing consumers to adapt to unforeseen changes in their schedules or financial situations.

Perceptions of Ticket Prices

There’s a strong sentiment among event-goers that ticket prices have risen, with 86% feeling that tickets are more expensive than before.

Of these, 44% believe the price increase is too high or unjustified, pointing to potential friction between consumer expectations and pricing strategies in the industry.

Concerts in the U.K

The Impact of Economic Conditions

The cost of living crisis is significantly affecting consumers, with 92% of attendees feeling the impact on their daily expenses.

Among them, 46% are feeling the impact very strongly.

Despite these challenges, 50% still consider events a priority expense, highlighting the intrinsic value that live events hold for them.

Consistent Year-over-Year Attendance

Echoing the resilience seen in other parts of the report, the same 75% of attendees reported going to the same number or more events in 2023 as they did in 2022. This statistic reaffirms the stronghold that live events continue to have on the public’s interest and spending priorities.

Live Events Are Thriving

The findings from Tixel and Bolster’s report paint a picture of a live event industry that, while challenged by economic factors, continues to thrive due to the high value placed on live experiences by consumers.

Event organisers and promoters can glean from these insights to better align their offerings with the evolving needs and expectations of their audience.

Adjustments in pricing, timing, and flexibility could be key factors in sustaining engagement and attendance moving forward.

This detailed report not only helps stakeholders understand the current dynamics but also aids in strategising for future growth, ensuring the live events industry remains vibrant and accessible even in less predictable times.