Despite the cost of living crisis, consumer spending on the entertainment sector rose last month by a remarkable 15.8% year-on-year, according to recent data from Barclaycard, with the surge in demand for gigs bolstered by pre-sales for Swift's Eras tour concerts, as well as the upcoming Foo Fighters stadium tour.
In-person experiences have remained a priority for the British public. One in 10 people told the credit card company they had cut back on other expenses to afford tickets for concerts or movies, while the same proportion said they had bought a ticket in July that they "couldn't really afford".
A quick check of social media when an international artist announces a new tour reveals the fervour to secure tickets. However, with the cost of a gig rising and shows selling out minutes after tickets go on sale, fans are having to go to ever greater lengths.
"We're seeing a greater volume this year than ever before in terms of resale, which is interesting because I wasn't quite sure what this year had in store due to the cost of living crisis," says Richard Davies, the founder of the fan-tofan ticket exchange Twickets. He says the website has seen a 60% increase in ticket resales this year compared with 2022.
"There's still fomo [fear of missing out], people are still wanting to get out more after Covid, and there's still a backlog of tours, with some acts coming back a second time, like Coldplay playing again this year," he adds.
"I certainly don't think pricing has put people off, that's for sure. We've seen an average ticket price go up from upwards of £50 to more than £70. There's lots of demand out there and people are happy to pay the money."
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