A new market research study from Allianz Partners USA has shown that more Americans are prioritizing live entertainment and ticketed events like sporting competitions, music concerts and theatrical productions. The company’s 15th Annual Vacation Confidence Index survey found that nearly two-thirds of Americans plan on attending a ticketed event this year, while one-fifth expect to attend three or more such events.
The leading trip and ticket insurance company’s latest research revealed that 63 percent of Americans polled plan on going to at least one ticketed event in 2023, a rise of three percentage points from last year and eight points from 2021, signaling U.S. audiences’ ongoing interest in attending live engagements. Respondents who plan on attending at least three such in-person events constituted 20 percent of the surveyed group, which is the same percentage as last year, but up three points from 2021.
In terms of which types of ticketed events they’re planning to attend, over half (55 percent) said they’ll be going to a live concert, festival or performing arts event, a figure that’s two percent higher than in 2022. Meanwhile, 46 percent of those surveyed will be cheer on their favorite team at sporting events, which amounts to the same share as last year, but up three points from 2021.
The youngest U.S. adults (ages 18 to 34) are the most plugged in to live entertainment happenings, with 78 percent planning to attend at least one ticketed event in 2023—up two points from last year. The survey found that increased age corresponds to decreased attendance, with 67 percent of 35- to 54-year-olds purchasing live event tickets, and Americans over the age of 55 split almost evenly in terms of their interest in attending to live events. Among this age group, 48 percent of respondents reported plans to go see a live event this year, representing an increase of three points over last year.
“Travel and entertainment go hand-in-hand, and fans are eager to see their favorite performers and sports teams as they return to the stage and field,” Daniel Durazo, director of external communications for Allianz Partners USA, said in a statement. “But if the show doesn’t go on as planned due to an unexpected covered illness or another covered reason, event ticket insurance can help protect ticket buyers from losing their investment when they can’t make it to their event.”
Allianz Partners offers an Event Ticket Protector product that can reimburse up to 100 percent of ticket costs, up to $10,000, when insured customers aren’t able to attend their event due to covered circumstances, such as an unexpected illness or job loss. Event Ticket Protector is offered by many leading event ticket providers. When they purchase a protection plan, policy holders also get access to 24/7 assistance through the company’s event hotline.
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