Entertainment Spending - Boston

Part
01
of three
Part
01

Live Entertainment Demographic Profile

Women are more likely to attend live entertainment and attractions than men, while individuals earning above-average income are twice as likely to attend such events than those earning less.

Live Entertainment and Attractions Demographics

General Population Data

  • About 70% of American adults attend a live entertainment or attractions event annually.
  • In the US, 35% of the population "have attended a concert in the past year, up from 33 percent in 2017, while festival attendees saw the greatest year-over-year growth, from 18 percent to 23 percent."

Age

  • About 46% of people who attend live music concerts in the US are aged between 18 and 34 years.
  • In the US, 80% of adults aged between 18 and 44 years attend arts, sporting events, and/or other entertainment.
  • About 70% of adults aged between 45 and 54 years attend arts, sporting events, and/or other entertainment.
  • About 76% of adults aged between 35 and 44 years attend arts, sporting events, and/or other entertainment.

Gender

  • About 51% of the people who attend live music concerts are women.
  • About 49% of the people who attend live music concerts are men.
  • The percentage of men that attended a live art event in the US is 30.4%.
  • The percentage of women that attended a live art event in the US is 36.1%.

Marital Status

Education Level

  • About 41% of college-educated adults visit art museums or galleries while 13% of less-educated adults do the same.
  • About 45% of college-educated adults attend sporting events, while 24% of less-educated adults do the same.
  • About 55% of college-educated adults attend performing arts events, while 27% of less-educated adults do the same.
  • About 75% of college-educated adults go to movies, while 50% of less-educated adults do the same.

Income

  • Adults with family in the US with incomes of $150,000 and above attend art museums and galleries twice as much as adults with less income.
  • About 35% of live music attendees in the US are likely to come from households with over $80,000 in annual income.
  • The percentage of people earning less than $20,000 that attended a live art event is 16.1%.
  • The percentage of people earning between $20,000 and $50,000 that attended a live art event in the US is 24.9%.
  • The percentage of people earning between $50,000 and $75,000 that attended a live art event in the US is 36.4%.
  • The percentage of people earning between $75,000 and $100,000 that attended a live art event in the US is 41.5%.
  • The percentage of people earning between $100,000 and $150,000 that attended a live art event in the US is 48.8%.
  • The percentage of people earning $150,000 and above that attended a live art event in the US is 62.3%.

Research Strategy

To compile data on trends for how live event spending varies based on demographics, we have relied on the most recent study published by the US Bureau of Labor Statistics and the US National Endowment for the Arts in 2017 and 2015 respectively. The studies rely on annual data compiled in 2015 and 2012.
Part
02
of three
Part
02

Boston Live Entertainment Market Size

The market size for live entertainment and attractions in the Boston area is estimated at between $1.5 billion and $3.2 billion.

Market Size of Live Entertainment and Attractions in Boston Area

  • According to the latest data from the US Bureau of Labor Statistics, households in the Boston Metropolitan Area spend an average of $68,119 annually, and 5.1% of the total expenditure is on entertainment.
  • The above means that households in the Boston Metropolitan Area spend an average of $3,474.1 ($68,119 * 5.1%) annually on entertainment.
  • There are 1,847,798 households in the Boston Metropolitan Area. That means that the total expenditure on entertainment by all households in the Boston Area is $6,419,435,032 ($3,474.1 * 1,847,798).
  • Although data on total live expenditure is not delineated from the total entertainment expenditure either in Boston, Massachusetts, or nationally, our research revealed that people in the US on average spend about 22.93% ($569/$2,482 * 100) of their total entertainment expenditure on fees and admissions. This is relevant because fees and admissions in the entertainment context are specifically associated with live entertainment.
  • Given that people in Boston and the US in general spend a similar percentage of their expenses on entertainment (5.1%), it is also likely that the percentage of entertainment expenditure that is spent on fees and admissions in Boston will be similar to the national average.
  • Hence, if we assume that the percentage of entertainment expenditure that is spent on fees and admissions in Boston is similar to the national average, we would have that the amount spent on entertainment fees and admissions in Boston is about $1,471,976,453 ($6,419,435,032 * 22.93%).
  • The US Bureau of Labor Statistics estimates that people in the US spend an average of "$652 on admissions to the arts, movies, sporting events, and other entertainment and recreational activities."
  • Given that there are about 4,875,390 people in the Boston Metropolitan Area and we assume that they spend a similar amount on admission as the American average, it would mean that they spend about $3,178,754,280 ($652 * 4,875,390) on admissions to the arts, movies, sporting events, and other entertainment and recreational activities.

Research Strategy

To understand the market size for live entertainment and attractions in the Boston area, we extensively searched media and industry sources such as Boston Media Group, Biz Journals, Boston USA, Business Insider, Forbes, among others. We also searched government and statistics databases such as Statista, the US Bureau of Labor Statistics, Data USA, Boston.gov, Boston Plans, among others. However, we were unable to find data for the market size of live entertainment and attractions in the Boston area.

Given that the data as unavailable directly, we attempted to search for the data on the US live entertainment and attraction market size. We were able to find data on the average expenditure of Americans on admissions to the arts, movies, sporting events, and other entertainment and recreational activities. We then used the data to calculate the market size of that of the Boston area by multiplying it with the population of the Boston Metropolitan Area.

We also attempted a different triangulation route, using data on entertainment expenditure in the Boston Area, and the percentage of the entertainment expenditure that is spent on fees and admissions. We have reported both data as a range of the likely market size of the live entertainment and attractions in the Boston area.
Part
03
of three
Part
03

Live Event Spending Trends

Consumers aged between 35 and 54 spend the most on live events, as well as consumers who are married with kids.

Live Event Spending by Demographics

Age

  • Consumers aged between 35 and 54 spend over $900 annually on fees and admissions to arts, movies, sporting events, and other entertainment and recreation.
  • Consumers aged under 25 years spend less than $250 annually on fees and admissions to movies, arts and sporting events, and other entertainment and recreation.
  • Consumers aged between 25 and 34 spend about $550 annually on fees and admissions to arts, movies, sporting events, and other entertainment and recreation.
  • Consumers aged between 35 and 44 years spend over $900 annually on fees and admissions to arts, movies, sporting events, and other entertainment and recreation.
  • Consumers aged between 44 and 54 years spend over $800 annually on fees and admissions to arts, movies, sporting events, and other entertainment and recreation.
  • Consumers aged between 55 and 64 years spend over $550 annually on fees and admissions to arts, movies, sporting events, and other entertainment and recreation.
  • Consumers aged 65 years and older spend over $500 annually on fees and admissions to arts, movies, sporting events, and other entertainment and recreation.

Income

  • Consumers earning between $15,000 and $99,999 spend less than $1,000 annually on live entertainment and attractions.
  • Consumers earning between $100,000 and $150,000 spend about $1,200 annually on live entertainment and attractions.
  • Consumers earning between $150,000 and $199,999 spend about $1,700 annually on live entertainment and attractions.
  • Consumers with incomes of $200,000 and above spend about $3,300 annually on live entertainment and attractions.

Marital Status

  • Married couples without children spend 2.7 times more, on average, on entertainment fees and admissions than unmarried people.
  • Married couples with children spend about 2.3 times more than single parents with children.
  • The average annual expenditure on live entertainment fees and admissions in a one-person household in the US is about $300.
  • The average annual expenditure on live entertainment fees and admissions in a one-parent household with at least one child in the US is about $500.
  • The average annual expenditure on live entertainment fees and admissions in a married couple household without any child in the US is about $800.
  • The average annual expenditure on live entertainment fees and admissions in a married couple household with at least a child in the US is about $1.100.

Education

  • People with a Bachelor's degree in the US spend nearly $1,000 on average annually on live entertainment fees and admissions.
  • Individuals with a Master's degree or higher in the US spend nearly $1,500 on average annually on live entertainment fees and admissions.
  • People with an Associate's degree in the US spend about $550 on average annually on live entertainment fees and admissions.
  • People with some college education in the US spend about $300 on average annually on live entertainment fees and admissions.
  • Individuals that graduated from high school in the US spend about $200 on average annually on live entertainment fees and admissions.
  • Individuals with less than a high school diploma in the US spend about $100 on average annually on live entertainment fees and admissions.

Research Strategy

To compile data on trends for how live event spending varies based on demographics, we have relied on the most recent data published by the US Bureau of Labor Statistics. The latest data was published in 2017 and it relies on annual data compiled in 2015 and 2012.
Sources
Sources