Gen-Z concertgoers in the United States spent an average of $101 per month on live music during the first quarter of 2025, overtaking the $94 monthly average among millennials, according to new data from entertainment analytics firm Luminate. Millennials had historically been the highest-spending demographic for live events.
The shift is partly explained by changing attitudes toward ticket prices. While 57% of Gen-Z respondents still cited ticket cost as a barrier to attending concerts, that share has fallen sharply from 75% two years ago. The percentage pointing to travel costs as an obstacle also declined.
“Younger fans are becoming more comfortable with spending big, and the industry has responded with bigger shows, more experience-based offerings and live infrastructure in emerging markets with existing tourist demand,” Luminate stated in its analysis.
Other industry research has underscored Gen-Z’s growing economic weight in live music. A report from AEG last September claimed that “Gen-Z leads the superfan revival,” while Live Nation‘s ‘Love Song 2026’ study in Australia described the live experience as “central to Gen-Z’s identity.” Both reports were tied to brand-partnership initiatives, indicating that the demographic’s value to the live sector extends beyond direct spending on tickets and concessions.
