Former Spotify chief economist Will Page has identified a ‘go big or stay home’ consumer shift that is powering a stadium show boom, even as multi-artist festivals and smaller venues face mounting ticket-sales challenges.
Page calculated that two fans attending a stadium concert in 2026 could easily spend £500. He attributes this spending capacity partly to the relatively low cost of music streaming subscriptions, which leaves what he calls “money left on the table” for live experiences.
He frames the trend as part of a broader de-risking of leisure budgets, with audiences gravitating toward safe, large-scale events. Harry Styles’ 12-night Wembley Stadium residency was cited as a prime example of artists meeting that demand.
Page predicts the stadium boom will continue to intensify, but he raised questions about the growing disconnect between blockbuster tours and the struggles of smaller venues and multi-artist festivals. He asked whether streaming has enabled artists to bypass grassroots circuits entirely, and what role platforms like Spotify might play in encouraging attendance at smaller live events, long considered the lifeblood of the touring industry’s future.
