Almost half (48%) of parents say they feel pressured* to pay for concerts

• Two thirds (66%) of respondents say ticket prices are unaffordable²
• Over half of respondents (52%) with children under 18 have taken steps to keep costs down to fund attending concert/music events in the past year¹

A TSB survey finds that almost half (48%) of respondents with children under 18 feel pressured to pay for kids/family members to attend concerts/music events with a third (65%) of respondents spending up to £100 for a ticket³.

Attending these events also resulted in additional costs for respondents including:

• 42% spent up to £100 on accommodation
• 74% spent up to £100 on food/drink
• 72% spent up to £100 on travel
• 53% spent up to £100 on their outfit

Two thirds (66%) of respondents with children under 18 said they think concert and entertainment events are unaffordable. But, despite these concerns about costs, TSB’s own data shows spending on concert /entertainment events has remained at similar levels since last year.

TSB’s data comes at a time as gig-goers shared their account of attending these events⁴:

The price disgusted me, but I couldn't say no to my child he would have hated me, so I bought them and now I'm in debt
Male, 25-34, Birmingham

I have bought tickets to see a musical for my two teens for Christmas the last two years. The cost of the tickets and having to buy a ticket for myself is astronomical, but I buy them because I want them to have something to look forward to. Now I feel like I probably have to buy tickets every year. I feel worried about going into debt
Female, 35 – 44, Scotland

I really wanted to attend a concert recently and I knew I would have to cut back on other monthly expenses in order to buy the ticket. I felt inadequate and guilty.
Female, 55+, Nottingham

Delphine Emenyonu, Head of Loans and Credit Cards at TSB said: “As this data proves, concerts can be expensive, and it’s clear that many parents feel under pressure to ensure their kids don’t miss out.  But if you can plan ahead, it’s worth thinking about all the ways that you can put money aside to pay for the big day.”

TSB sets out some tips to save for future concerts:

1: Knowing your outgoings and setting up a concert budget
Knowing your incoming and outgoings is the first place to start. Make a note of all income and expenses, and then you’ll be able to see how much money you can put aside for concerts. You can also use this opportunity to assess where you can cut back on any unnecessary outgoings.

2: Make the most of your account
See what your bank account offers. Some banks provide high interest rates for monthly deposits. Some also provide cashback opportunities when you spend, automated solutions to help your save, for example the opportunity to round up to the pound (every time you spend, the amount is rounded up to the nearest pound and can be saved in your savings account).  You can use this to start putting money aside and you may not even notice if your bank is rounding up payments. Before long you could have enough for the next big event.

3: Set yourself a goal and keep a regular track of your savings
Many people find it easier to save if they have a particular goal – so work out what that is. With some accounts like a TSB Savings Pot, you can even name the account and include an image – to remind you to what you are saving for. Keeping a regular check on your savings goal will help ensure you’re on track to hit that goal.

- Ends -

Notes to Editors

The research was conducted by Censuswide, with 2,017 Nationally representative UK respondents (aged 16+) between 14.06.2024 – 17.06.2024. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles.

* “Very pressured” and “Somewhat pressured” answers combined

2 “All “Yes” answers combined

3 “Strongly agree” and “somewhat agree” answers combined

4 “Less than £20”, “£20-£50”, “£51-£70”, and “£71-£100” answers combined

5 Verbatim comments included from respondents in the poll

TSB is also warning the public not to buy tickets from social media platforms – as the bank is currently seeing a spate of ticket fraud cases. Fraudsters capitalise on demand for popular gigs, events and festivals by listing tickets on social media sites that don’t exist.