Americans Spent $100 Billion to Be There in Person Last Year
In 2025, Americans spent a record $57.3 billion on live entertainment1 and another $43.5 billion on spectator sports2. Spending on live experiences is growing faster than overall consumer spending[AM1] , and younger consumers are helping drive that growth.
In 2000, live entertainment accounted for about 15 cents of every $100 that Americans spent. Today, it represents about 27 cents1,3. That share continues to grow: live entertainment spending rose 9.2% in 2025, while overall consumer spending rose 5.3%1,3.
Younger consumers are driving the shift
In a 2024 survey of 1,000 Gen Z consumers, 85.8% said they had exceeded their budgets at concerts, sporting events, and festivals4. In the U.K., Mastercard found that 65% of Gen Z planned to spend more on experiences in 2025 than the year before, and 43% of adults preferred spending on experiences, compared with 26% who preferred material goods5. More than a third of respondents said they were cutting back on luxuries and dining out to fund those experiences5. Across Europe, live events accounted for 32% of consumer spending on experiences in 2024, excluding travel and restaurants6.
For younger consumers, being there in person is becoming a spending priority.
Three forces help explain the renewed demand for live experiences:
COVID-19 created scarcity. In 2020, spending on live entertainment fell by roughly half, from $39.4 billion to $19.5 billion1. As live events returned, so did demand. By 2025, spending had reached a record $57.3 billion, nearly three times its 2020 level1.
Screen fatigue is growing. Americans now spend 2.6 hours a day watching TV, accounting for half of their leisure time7. In a September 2026 survey of 7,449 U.S. adults, 81% said they had already taken steps to cut their screen time, and 73% said spending time in person with friends and family had become more important to them over the past year8.
AI has raised concerns. Half of Americans say AI will make people worse at forming meaningful relationships, while just 5% say it will make them better9. Among adults under 30, the share who expect AI to weaken those abilities rises to 58%9.
Screens can deliver almost anything now, except the feeling of being in the room with others. That's what people are paying for.
Long-term forecasts suggest the trend will continue. Goldman Sachs estimates that the global live music market was worth $34.6 billion in 2024 and projects that it will reach $67.1 billion by 2035, nearly double its 2024 size. It forecasts annual growth of 7.2% through 203010. Live music is only one part of the broader live experiences market.
Affluent households account for a growing share of consumer spending. According to estimates from Moody’s Analytics, households earning at least $251,000 a year, the top 10%, accounted for 49.2% of U.S. consumer spending in the second quarter of 2025, the highest share since at least 198911. For operators, these consumers represent an important audience for premium experiences.
Major operators are expanding their premium offerings to serve that audience. Live Nation CEO Michael Rapino said in May 2026 that concerts have historically been “about 99% GA and 1% premium.” The company now plans to dedicate up to 30% of capacity to premium offerings in its new arenas and up to 25% in its amphitheaters12. At the Hollywood Palladium, its Vinyl Room premium hospitality offering has pushed on-site spending above $100 per fan13.
What this means for operators:
Guests are looking for premium live experiences and are willing to pay for them. That raises the bar for everyone in the industry. Meeting those expectations depends on knowing who you are serving: what they like, what they order, how often they visit, and which events bring them back.
Sources
1. U.S. Bureau of Economic Analysis, Personal Consumption Expenditures: Live entertainment, excluding sports, via FRED: https://fred.stlouisfed.org/series/DLIGRC1A027NBEA
2. BEA, Personal Consumption Expenditures: Spectator sports, via FRED: https://fred.stlouisfed.org/series/DSPERC1A027NBEA
3. BEA, Personal Consumption Expenditures (annual), via FRED: https://fred.stlouisfed.org/series/PCECA
4. MERGE, "Gen Z Confesses to Event-Driven Overspending, According to New Study," The Event Effect: Gen Z Retail Survey, September 10, 2024: https://mergeworld.com/insights/agency-updates/genz-confesses-to-event-driven-overspending
5. Mastercard, "2025 is the year of the bucket list experience," U.K. consumer survey, 2025: https://www.mastercard.com/news/europe/en-uk/newsroom/press-releases/en-gb/2025/2025-is-the-year-of-the-bucket-list-experience-mastercard-research-shows/
6. Mastercard Economics Institute, "Europe's Experience Economy Is One for the Bucket List," 2025: https://www.mastercard.com/news/europe/en/newsroom/press-releases/en/2025/europe-s-experience-economy-is-one-for-the-bucket-list/
7. U.S. Bureau of Labor Statistics, American Time Use Survey: 2025 Results, June 25, 2026: https://www.bls.gov/news.release/archives/atus_06252026.htm
8. Murmuration, Life in the Digital Age, survey of 7,449 U.S. adults, September 24, 2026: https://www.financialcontent.com/article/newsfile-2026-9-24-new-research-reveals-americans-want-to-log-off-and-reconnect-but-america-is-running-out-of-places-to-do-so
9. Pew Research Center, "How Americans View AI and Its Impact on People and Society," September 17, 2025: https://www.pewresearch.org/science/2025/09/17/views-of-ais-impact-on-society-and-human-abilities/
10. Goldman Sachs, Music in the Air 2025, as reported by Music Business Worldwide, June 3, 2025: https://www.musicbusinessworldwide.com/emerging-markets-superfans-and-price-rises-7-takeaways-from-goldman-sachs-new-music-in-the-air-report
11. Bloomberg Law, “Top 10% of Earners Drive a Growing Share of US Consumer Spending,” September 16, 2025, citing Moody's Analytics analysis of Federal Reserve data: https://news.bgov.com/daily-labor-report/top-10-of-earners-drive-a-growing-share-of-us-consumer-spending
12. Live Nation Entertainment, Q1 2026 earnings call, May 5, 2026, transcript via The Motley Fool: https://www.fool.com/earnings/call-transcripts/2026/05/05/live-nation-lyv-q1-2026-earnings-transcript/
13. Live Nation Entertainment, First Quarter 2026 Results, Form 8-K Exhibit 99.1, May 5, 2026: https://www.sec.gov/Archives/edgar/data/0001335258/000133525826000018/lyv-2026q1xex991er.htm
