UK festival-goers are spending more money than ever on attending live events but are willing to fork out even more on tickets, according to Ticketmaster’s latest annual State of Play report.
The Live Nation-owned ticketing giant has released the B2B version of its State Of Play: UK Festivals study, which surveyed 4,000 festival-goers and draws on 10-years of ticketing data, to provide insights into market trends and consumer habits.
Fans are spending more on their overall festival experience than they were in 2012, with total spend increasing by £127.22. Most of the extra spend is related to drinks (both on-site and off-site) and clothes, although fans are spending less on travel and food than in previous years.
People said they would be willing to spend £61 more than what they currently pay for a five-day festival, £72 extra for a three-day festival and £28 more for a one day festival. However, when it comes to VIP tickets, the study found that fans would hope to pay £12 less for their premium tickets.
The report found that one in five festival attendees are likely to purchase a VIP ticket, with 80 per cent saying they would spend more money for luxury toilets and access to a viewing area close to the stage.
Some 75 per cent said they would fork out more money for VIP Fast Track ticketing lanes, while 76 per cent would add extra onto their ticket price for VIP accommodation.
Meanwhile, 28 per cent of those that choose not to attend festivals say ticket prices are the biggest deterrent.
The findings show that the UK festival scene is in good health according to Sarah Slater, vice-president of music and festivals at Ticketmaster UK.
She said: “We are constantly told that the festival market is over saturated, but is that really true? With our transactional data we can see the ever-growing popularity of the festivals we ticket for.
“Since working at Ticketmaster I have not only seen the number of tickets we sell for certain festivals increase year-on-year, but also the number of festivals we sell for and the extraordinary diversity of line-ups and experiences they offer.”
The State of Play report on UK festivals also highlights that two in five people purchase their tickets at least six months before the festival, but over half purchase closer to the event. In fact, the proportion of customers purchasing when tickets first go on sale has been decreasing since 2010, from 40 per cent to 25 per cent.
Festival-goers feel digital festival tickets come with a host of benefits, with 86 per cent agreeing that they are eco-friendly and convenient, while 85 per cent think they are secure and 83 per cent say they are reliable.
Ticketmaster said: “Our insights show that Unsurprisingly, fans who attend the same festival every year are more likely to purchase during the presale, and less likely to buy at the last minute. When fans book, as age increases, so does the likelihood that fans will book early.
“Those aged 16-19 are the most likely to be spontaneous late bookers. Regionally, Londoners are the latest bookers, whereas the Welsh are the most likely to buy early bird tickets.”
Image: Veld Music Festival