The financial squeeze may be continuing to hit consumers hard but it seems that local and live entertainment are set to escape the household cutbacks, with nearly half of all Brits committed to maintaining their spending on going out over the next 12 months.
That is according to the EY Media & Entertainment (M&E) Pulse Poll, which quizzed over 1,000 consumers in the UK as part of a global study to explore the perceptions, attitudes, and intentions of consumers towards experiential entertainment activities, including live events, sporting activities, and theme parks.
The annual report found that local and live entertainment continued to be the most popular media and entertainment purchases over the past 12 months, with 49% and 48% of UK consumers respectively indicating their preference.
Notably, 45% of consumers in the UK intend to sustain their spending on live entertainment over the next 12 months, while half (50%) intend to do the same for local entertainment.
When it came to purchasing decisions, overall cost and value for money were the most significant factors for UK consumers when selecting an entertainment activity.
Despite this, premium products and services, such as VIP packages, special edition merchandise, and guided tours, remain highly sought after, with 83% of consumers purchasing packages for local entertainment and 77% for live entertainment.
The survey also sheds light on the increasing role of technology in enhancing the entertainment experience with consumers across all demographics, including older generations, identifying technology as a crucial factor when purchasing tickets.
The three digital capabilities deemed most beneficial include contactless payments check-in (86%), digital ticketing (84%), and maps and wayfinding tools (80%).
The survey reveals that overall cost and value for money are the primary considerations for 68% of consumers when choosing entertainment activities. High costs are cited as the biggest deterrent to enjoyment (54%), surpassing concerns about crowded spaces and long wait times (both at 42%).
When exploring the motivations behind spending on entertainment, 45% of respondents indicate personal interest in the entertainment type as a key factor, while only 9% are influenced by recommendations from friends and family.
Emotional motivations also play a significant role in purchasing decisions, with 64% of consumers seeking moments of joy and excitement, and 59% wanting to spend quality time with loved ones.
Interestingly, younger consumers (Gen Z and Millennials) are more likely to cite “improving mental health” as a motivation compared to older generations, with 32% of Gen Z and 27% of Millennials highlighting this aspect compared with 23% globally.
EY UK&I technology, media & entertainment leader Anna Fry said: “In the face of economic uncertainty, consumers remain committed to spending on local and live entertainment, demonstrating a resilient appetite for these experiences.
“This enthusiasm presents a significant opportunity for entertainment providers. To capitalise on this momentum, it is essential for them to harness the diverse motivations driving consumer choices and to leverage technology effectively, ensuring they deliver exceptional value and engagement that resonates with today’s audiences.”
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