Revenue / 10.30.18
Family Live Entertainment Thrives in Digital Era as Spend & Ticket Prices Rise
The Music Network (10/30/18) Heyman, Martin
Australia's family live entertainment and children's show industry is prospering despite rivalry from digital entertainment options, says TEG Analytics research. The median spend is $204.51, a 1.8 percent gain over the past 10 years; the average price per ticket for children's shows is $50.63, up 8.2 percent. "Competition for the family dollar is intense and the statistics show that live events fulfill a vital role, with 73 percent of parents with children under 18 considering it important for their children to attend live entertainment events," says TEG's Andrew Reid. "And live event attendance isn't limited to just family entertainment shows with sport being the top attended events by families with kids under 18 at home." The last decade's changes in the family demographic mirror the current profile of live entertainment audiences, with only 37 percent of modern Australian households coupled families with children at home, versus 48 percent in 1976. There has been a corresponding drop in family entertainment purchasers as a proportion of all live entertainment ticket buyers, from 9 percent in 2008 to 6 percent in 2018. In comparison with the general population, families are 7.6 times more likely to buy tickets to children's shows, 1.5 times more likely to buy tickets to circuses, and 1.2 times more likely to buy tickets to sports events.
Read the full article on The Music Network website.
Tags: News, Consumer Behavior