New data released by TRG Arts shows soaring ticketing gift revenue in the UK despite a concerning drop in North America.
The ‘Gifts & Ticket Sales Revenue Analysis: US, Canada, and UK for August 2023’ shows a stunning increase of 27% in UK gift revenue compared to 2019 – the last wholly comparable year before the pandemic. While some of this surge appears to be driven by organisations including large capital grants and donations, the study said the UK’s growth “is nothing short of phenomenal”.
While there was a marginal 2-3% growth in ticket sales and revenue compared to 2022 YTD, this effectively translates into a substantial drop when accounting for inflation.
Published by TRG Arts, the data analysis is collated in partnership with David Brownlee and Data Culture Change. The study seeks to monitor the evolving markets of gifts and ticket sales.
A far less positive picture was painted in North America, with US cumulative gift revenue for the year down by a glaring 34% compared to 2019, representing an aggregate $237m gap in YTD revenues.
Ticket sales in the US are down 20% year-on-year, with revenue down 3%, which would be even worse accounting for inflation.
Lack of momentum
In conclusion, researchers said: “August 2023 has been a fascinating month for gifts and ticket sales in our focus countries. The US continues to alarm with its significant loss in gift revenue and stagnant ticket market. Canada, although slightly better than July in ticket sales, is not out of the woods. On the other hand, the UK presents a compelling story with its remarkable gift revenue performance.
“The UK’s gift market, in particular, stands out as an intriguing area for future investigation, possibly providing insights that could benefit other regions. But when it comes to ticket sales, the persistent lack of momentum across all three nations should be considered a red flag, warranting focused strategies for revival.
“As the tale of these markets continues to unfold, continuous scrutiny and adaptive strategising remain crucial for tapping into emerging opportunities and navigating challenge.”