Australians over 50 years of age are spending more on live entertainment than people under 50, new TEG research has found. The findings are based on a TEG Rewards online survey of 1,000 people in August and September this year, along with TEG Analytics event attendance data over a three-year period to 30 June this year.
The results revealed that over 50s represent 34.3% of total spending on live entertainment and spend 7.5% more than under 50s.
TEG’s Managing Director of Data, Digital and Analytics Mazen Kassis said: “The synthesis of our market leading data analytics and research continues to uncover fascinating insights, this time in the over 50s live entertainment audience.
“Leveraging our range of data-driven solutions and actionable insights, savvy brands can measurably enhance their ability to engage with such an audience through their passions, motivations and interests.”
The findings, a part of the ‘50+ and the Leisure Economy’ series, provides a number of significant insights, such as:
- 4 million ticket purchasers in Australia over the three-year period covered by the research were individuals over 50
- While sporting events attract the largest volume of over 50s purchasers, the demographic is over-represented in arts attendance
- Musical theatre is very popular with over 50s, who make up 41.7% of purchasers, compared to narrative theatre where those 50+ years make up 30.9% of audiences.
- In relation to overseas travel, the most popular forms are island and beach resorts (48.2%) and cruise ships (47.5%)
- 6% of over 50s own a mid-size car, and are 1.2 times more likely to own this type of vehicle than under 50s
- Over 50s constitute 33.2% of the Australian population
The research findings on media consumption for over 50s found some fascinating trends:
- Facebook is by far the most popular social media among over 50s with 63% reporting daily usage
- While television remains the dominant medium for over 50s, with 84% watching TV regularly, newspaper reading is a particular habit of over 50s, who are 1.8 times more likely to read print than under 50s
To find out more about the ‘50+ and the Leisure Economy’ series, contact TEG Analytics:
P: +61 2 9266 4000