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A ticket for a dwell music occasion now prices £128 on common within the UK – with typical gig and competition costs hovering by 212% since 2000, in response to analysis by a serious financial institution.
Santander UK’s “gigflation” index discovered the common UK gig or competition ticket has surged from £41 in 2000 – earlier than the price of reserving charges, journey, meals and drinks are additionally included.
Pricing benchmarks have been compiled by the financial institution utilizing publicly obtainable ticket archives and competition pricing histories, with ticket value comparisons excluding VIP packages and resale tickets.
A survey for the financial institution, which was launched alongside the evaluation, marking the launch of Santander’s 8% AER (annual equal price) common saver account, discovered rising prices have made 71% of concert-goers suppose twice about seeing artists dwell.
Regardless of the squeeze on their wallets, three-quarters (75%) of followers nonetheless imagine that seeing their favorite artist is an efficient funding, with plans to attend a mean of three exhibits a yr.
Nostalgia performs a giant half in live performance followers’ love of dwell occasions, with two-thirds (67%) of individuals saying they nonetheless get pleasure from seeing the identical bands they did 20 years in the past – and greater than half (53%) having fun with the bands their mother and father noticed after they have been youthful.
Frances Haque, an economist at Santander UK, mentioned: “Regardless of the rising monetary calls for, customers proceed prioritising memorable experiences and cultural moments.”
Some 2,000 adults throughout the UK who’re attending dwell exhibits this yr have been surveyed for Santander UK by 3Gem Analysis in June.
