Live music tickets in the UK now cost an average of £128, with prices soaring by 212% since 2000, according to Santander UK's new "gigflation" index. The research highlights a dramatic rise from an average of £41 in 2000, before additional costs such as booking fees, travel, food, and drinks are factored in.
Methodology and Survey Findings
The pricing benchmarks were compiled using publicly available ticket archives and festival pricing histories, excluding VIP packages and resale tickets. Alongside the analysis, a survey of 2,000 UK adults attending live shows this year, conducted by 3Gem Research in June, revealed that rising costs have made 71% of concert-goers think twice about seeing artists live.
Despite the financial squeeze, three-quarters (75%) of fans still believe seeing their favourite artist is a good investment, planning to attend an average of three shows per year. Nostalgia plays a significant role, with two-thirds (67%) of people saying they still enjoy seeing the same bands they did 20 years ago, and more than half (53%) enjoying the bands their parents saw when they were younger.
Consumer Behaviour and Economic Impact
Frances Haque, an economist at Santander UK, commented: "Despite the increasing financial demands, consumers continue prioritising memorable experiences and cultural moments." The research was released to mark the launch of Santander's 8% AER regular saver account. The gigflation index underscores the growing financial burden on concert-goers, yet the enduring appeal of live music remains strong.
