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Over 50s big spenders on live entertainment

Quinquagenarians and above in Australia are outspending their younger counterparts by nearly 8%, reveals new research highlighting the purchasing power of over 50s

By IQ on 24 Nov 2017

Over 50s

image © Jlhopgood on Flickr

Australians over 50 years of age are spending more on live entertainment than people under 50, new research by promoter/ticketer TEG has found.

TEG’s findings – based on a TEG Rewards online survey of 1,000 people in undertaken in August and September, along with TEG Analytics event attendance data over a three-year period to 30 June – reveal over 50s make up more than a third (34.3%) of total spending on live entertainment, spending an average of 7.5% more than their younger countrymen.

The survey forms part of a ‘50+ and the Leisure Economy’ series of research, and also finds:

  • 1.4 million ticket purchasers in Australia over the three-year period covered by the research were individuals over 50, who make up 33.2% of the Australian population
  • While sporting events attract the largest volume of over-50s purchasers, the demographic is also over-represented in arts attendance
  • Musical theatre is very popular with over 50s, who make up 41.7% of purchasers, compared to narrative theatre, where those aged over 50 make up 30.9% of audiences
  • Facebook is by far the most popular social media among over 50s, with 63% reporting daily usage
  • While television remains the dominant medium for over 50s, with 84% watching TV regularly, newspaper reading is a habit particular to that demographic, who are 1.8 times more likely to read print than under 50s

TEG’s managing director of data, digital and analytics, Mazen Kassis, comments: “The synthesis of our market leading data analytics and research continues to uncover fascinating insights, this time in the over 50s live entertainment audience.

“Leveraging our range of data-driven solutions and actionable insights, savvy brands can measurably enhance their ability to engage with such an audience through their passions, motivations and interests.”

 


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