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Business News Live Business
Live entertainment spending up, says Barclaycard
By Chris Cooke | Published on Monday 6 July 2015
Spending on live entertainment is up, according to Barclaycard, which is basing that on what its customers have been busy splashing out on this year.
The credit card firm reckons that consumers have spent 8.5% more on live entertainment in the first half of this year compared to 2014, with three months in 2015 seeing double digit growth on last year. Though that does include all forms of live entertainment – including sport – so this extra spending isn’t just benefiting the live music sector. Sorry.
Barclaycard also reckons that, while people are spending more often on live entertainment, individual transactions across the board are down, suggesting less big festival or high-end events and more cost effective forms of entertainment. The average live entertainment transaction this year is £37.62 compared to £40.37 for the same period in 2014.
Commenting on all this, Barclaycard Chief Marketing Officer Katherine Whitton told reporters last week: “As the country enjoys a rise in spending power, people are keen to indulge their love affair with live music and entertainment. The impressive growth so far this year shows no sign of slowing down, and we expect live entertainment to ride the wave of the economic recovery over the coming months”.
