The cost of living crisis that has gripped the UK since 2022 has touched almost every aspect of consumer spending, and the events industry has not been immune. Rising energy prices, food inflation, mortgage increases, and stagnant wage growth have combined to squeeze household budgets, forcing difficult choices about discretionary spending. For many people, attending events -- concerts, festivals, theatre, sport -- has moved from a regular pleasure to an occasional treat, or in some cases, an unaffordable luxury.
The numbers tell a story
The impact on the events industry has been significant, though not uniform. Some segments have proven more resilient than others. Major touring artists and premier sporting events have continued to sell well, suggesting that the biggest names can still command premium prices even in tough economic times. However, mid-tier events -- those that are neither the cheapest nor the most exclusive -- appear to be feeling the squeeze most acutely.
Advance ticket sales have slowed for many events, with audiences increasingly waiting until closer to the date before committing. This may reflect both financial uncertainty -- people are less confident about their ability to afford an event weeks or months in the future -- and a more cautious approach to discretionary spending generally.
Secondary spending at events has also been affected. Audiences are spending less on food, drink, and merchandise once inside the venue. Some are bringing their own food where permitted, pre-loading drinks before arrival, or simply consuming less. This is particularly concerning for event organisers and venues whose business models depend on secondary spend to supplement ticket revenue.
Who is most affected?
The cost of living crisis does not affect everyone equally, and neither does its impact on event attendance. Younger audiences, who typically have lower incomes and are more likely to be renting, appear to be disproportionately affected. This is concerning for the long-term health of the events industry, since these are the audiences of the future.
Families are another group feeling the pinch. A family of four attending even a modest event can easily spend over a hundred pounds when tickets, transport, food, and drinks are factored in. For households already struggling with mortgage payments and grocery bills, this is a significant outlay that many cannot justify.
Geographic disparities are also relevant. Audiences in London and the South East, where the cost of living is highest, face greater pressure than those in other regions. However, they also have access to a wider range of free and low-cost events, which may partially offset this disadvantage.
How organisers are responding
The events industry has not been passive in the face of these challenges. Many organisers are actively seeking ways to make events more affordable and accessible. Payment plans, which allow audiences to spread the cost of tickets over several months, have become increasingly common. Early-bird pricing, group discounts, and tiered ticketing options that offer a range of price points are also being used more widely.
Some organisers have reduced ticket prices, absorbing the cost through operational efficiencies or accepting lower margins. Others have introduced free or pay-what-you-can events, either as standalone offerings or as components of larger programmes. Community-focused events with low or no ticket prices serve both a social purpose and a commercial one, building audience loyalty that can translate into paid attendance when budgets improve.
Ticketing fees have come under particular scrutiny during the crisis. When budgets are tight, the addition of booking fees, service charges, and delivery fees can be the factor that tips a potential purchase from affordable to unaffordable. This is one reason why zero-fee ticketing platforms have gained traction -- every penny saved on fees is a penny available for the experience itself.
The hidden costs
The headline ticket price is only part of the total cost of attending an event. Transport -- whether fuel, parking, train fares, or taxi rides -- can add significantly to the total. Food and drink at venues, typically priced at a premium, adds more. For events requiring overnight stays, accommodation costs can exceed the ticket price itself.
These ancillary costs are often overlooked in discussions about event affordability, but they are a significant factor in attendance decisions. Organisers who can find ways to reduce these hidden costs -- through better public transport links, more reasonable food and drink pricing, or camping options at festivals -- may be able to attract audiences who would otherwise stay away.
Long-term implications
If the cost of living crisis proves to be a prolonged period of economic pressure rather than a temporary spike, the implications for the events industry could be substantial. Audiences who have been priced out of events for several years may develop alternative leisure habits -- streaming at home, free outdoor activities, community-based entertainment -- that persist even when their financial situation improves.
There is also a risk of a growing divide between premium events, which cater to affluent audiences and can maintain high prices, and everything else. This stratification would be bad for the diversity and vibrancy of the UK events landscape, and bad for the principle that live events should be accessible to everyone.
Conversely, the crisis could drive positive innovation. Organisers who learn to deliver compelling experiences at lower cost points, who find creative ways to make events accessible, and who build genuine community around their offerings may emerge stronger when the economic pressure eventually eases.
What can be done
There is no single solution to the affordability challenge, but several approaches can help. Transparent, fair pricing -- with no hidden fees -- builds trust and allows audiences to make informed decisions. Payment plans and flexible refund policies reduce the financial risk of committing to an event in advance. Free and low-cost programming ensures that live events remain accessible to all, not just those with disposable income.
Government support for the events sector, including reduced VAT on event tickets and targeted funding for community events, could also make a meaningful difference. The events industry contributes significantly to the UK economy and to community wellbeing, and supporting it during difficult economic times is an investment in the nation's cultural and social infrastructure.
At Tickts, our zero-fee model exists precisely because we believe the cost of attending events should be as low as possible. When every pound counts, eliminating unnecessary fees is not just good business -- it is the right thing to do.
