Gen Z overtake millennials as the biggest live music spenders in US
New Luminate data shows Gen Z has overtaken millennials as the biggest spenders on live music in the US.
As ticket prices continue to climb, Gen Z is still finding room in its budget for live music.
New data from Luminate shows the generation is now spending more on live music than millennials in the US, pointing to growing demand for live experiences among younger music fans.
Gen Z’s spending power is growing
According to Luminate’s Live Music 2026 report, Gen Z concertgoers spent an average of $101 per month on live music during the first quarter of 2026, compared with $94 for millennials. As Music Ally reports, millennials have historically been the highest-spending demographic, making this a notable milestone for the live music business.
Rather than being put off by rising ticket prices, younger fans appear increasingly willing to prioritise concerts and festivals as part of their entertainment spending.
Live experiences are becoming more valuable
The report points to changing attitudes among Gen Z concertgoers. While ticket prices remain the biggest obstacle to attending live events, concern over cost has fallen significantly over the past two years. Travel expenses have also become less of a barrier.
As Luminate states, “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.”
The data also suggests Gen Z are attending concerts more frequently, with multi-show attendance increasing as single-event attendance declines.
A trend that’s bigger than concerts
The latest figures add to growing evidence that Gen Z’s listening habits are increasingly shaping music discovery, fan communities and artist marketing. Many younger fans are looking for more than just a playlist – they want experiences, meaningful connections and opportunities to support the artists they love.
That helps explain why live music continues to thrive despite rising ticket prices. For many younger listeners, going to concerts has become an essential part of being a fan, offering something streaming alone can’t replicate.
What independent artists can learn
For independent artists, live music and streaming work best when they support one another. Streaming helps new listeners discover your music, while live performances give fans a chance to build a deeper connection with your work. That relationship often extends beyond the venue, encouraging fans to revisit your music, follow your future releases and share them with others.
As audiences become more willing to invest in live experiences, growing an engaged fanbase across streaming platforms can create more opportunities both on and off the stage. Understanding where your listeners are, releasing music consistently and building momentum over time can all help when it’s time to start booking shows or plan a tour.
Whether you’re preparing for your first gig or reaching audiences in new cities, making your music available on the world’s biggest streaming services gives fans more ways to discover you before – and after – they see you perform.