Gen Z are going into debt to buy concert tickets, new report claims
A new report claims that Gen Z is spending beyond their means, including going into debt, to afford tickets to concerts and festivals.
The latest survey follows a report in April that 60 per cent of Coachella Festival attendees used a scheme to cover the cost of admission to the Californian event, with standard tickets costing a minimum of $599.
Now, a new Bank of America survey has found that the average customer spent $150 a month on entertainment between May 2024 and April 2025, according to Billboard. This number extends to $300 a month for credit card users.
Despite the ongoing crippling financial situation globally, they also discovered that a third of survey participants plan to increase their spending in this area.
Additionally, a new Cash App survey discovered that more than half of Gen Z music fans have used buy-now, pay-later services to attend events. Moreover, one in five Gen Z participants admitted to spending beyond their means to attend concerts in the past two years. Nevertheless, 65 per cent said they expect to spend more on concerts and festivals in 2025 than in 2024.
Lindsay Bryan-Podvin, Cash App’s financial therapist, said in a statement: “Gen Z’s ‘do it for the plot’ approach to life may be eclipsing the Millennial YOLO when it comes to spending on music-centric experiences”.
Bryan-Podvin continued: “While saving for a house might feel out of reach, a weekend festival is doable. I love that they’re spending in line with their values like community, experiences, and memory-making, but I always encourage topping off emergency savings while saving for epic shows.”
News of the survey arrives after Billie Eilish recently announced an extension of her North American tour, which is set to commence later this year.
The run of dates will begin in Miami with three shows at the Kaseya Center in October before Eilish will head to Orlando, Raleigh, Charlotte, Philadelphia and Long Island later that month. However, ticket prices for the Philadelphia show, as an example, range between $75.45 and $474, with pit prices expected to set fans back $250.
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