Women will be behind three quarters of all non-essential spending by 2028

5 mins read
Women will be behind three quarters of all non-essential spending by 2028

A paid for ad feature for viagogo.

According to a report from Nielsen, women will be behind 75 per cent of all non-essential or discretionary spending by 2028, making them “the world’s greatest influencers”. The data comes swiftly after a new meme format ‘girl math’ goes viral as women justify their generous spending patterns. 

Recently, 29 per cent more women said they bought a concert ticket in the last six months this year, compared to 2022 – while Barclays claimed live events encouraged a 15.8 per cent increase in spending this summer.

And that’s reflected in fresh data gathered by viagogo. According to the platform, Adele was the most popular artist on their global marketplace in 2022 while this year, Madonna, PINK and Beyoncé are all in the top ten. 

Looking ahead over the next twelve months, Taylor Swift and Madonna are top of ticket sales on viagogo’s global marketplace, representing 35 percent of all sales. 

However, according to viagogo, much more progress is needed. There were only three acts that featured women in the top ten acts of 2022 (Adele, Billie Eilish and N-Dubz) and the same looks to be true of 2023. Just 20 per cent of acts in viagogo’s top 50 most popular sellers in the UK featured women and right now, Taylor Swift is the only female artist in the top ten of ticket sales for 2024. 

It’s no secret that women who are up and coming have a long and complex route to the top. According to recent data from the UK’s inaugural Musicians Census, the average musician’s annual income is £20,700 and 60 per cent of them are unable to support themselves from their craft. Amongst artists who can make a living from music alone, (earning £34,000+ a year) unsurprisingly, men earn higher compared to all other gender groups. In 2023, 152 musicians (3 per cent) reported earning over £70,000 from music each year – yet only 19 per cent of them identify as women.

The pay gap is an issue that threatens industry progress especially as female superstars have the power to shift the world’s economic and tectonic plates. Taylor Swift fans reportedly caused a mini earthquake over the summer in Seattle.  The New York Times’ Jenna Wortham noted that Beyonce’s Renaissance Tour generated as much for the United States, as the 2008 Olympics did for Beijing — nearly $4.5 billion (£3.67billion). Closer to home, viagogo revealed that fans from over 90 countries bought tickets for Knowles’ UK run in May and June, generating millions in flights, hotels and leisure spend as accommodation prices began to soar.

From a fan’s perspective, the ‘girl math’ indicates tickets are worth every penny as YouGov data shows that 19 per cent of women admitted they would fly 5-6 hours to see their dream act perform, with 29 per cent having bought hotel rooms in other cities. Thirty six per cent of millennial women even insisted they would sacrifice alcohol, caffeine (24 per cent) or even sex (17 per cent) for six months just to experience that front row feeling. 

Gen-Z women show no signs of bucking the trend, as global demand for coming-of-age acts like Olivia Rodrigo has doubled since her latest album ‘Guts’ and she announced tour dates in late September. The 20-year-old’s rebellious pop sound quickly catapulted her to no 5 of the UK’s top-selling acts on viagogo, outselling acts like The 1975 and Jonas Brothers. Globally, the newly crowned pop princess stands at no 4 – side by side with the Queen herself, Madonna.

Source link

Leave a Reply

Your email address will not be published.

Previous Story

David Gordon Green reboots The Exorcist

Next Story

Darktide’ class reworks arrive with a cheer

Latest from Blog

withemes on instagram