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 per cent of total spending on live entertainment and spend 7.5 per cent 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:
· 1.4 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 per cent of purchasers, compared to narrative theatre where those 50+ years make up 30.9 per cen tof audiences.
· In relation to overseas travel, the most popular forms are island and beach resorts (48.2 per cent) and cruise ships (47.5 per cent)
· 46.6 per cent 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 per cent 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 per cent reporting daily usage
· While television remains the dominant medium for over 50s, with 84 per cent 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