Taylor Swift and Coldplay behind massive surge in concert spending

July saw a surge in concert and cinema spending amongst Irish consumers according to the AIB Spend Trend report.

The announcement of shows for Taylor Swift and Coldplay undoubtedly contributed to the 88% jump in spending with ticket agencies this month.

Tickets for Swift’s show at the Aviva next year started from €86 while tickets for Coldplay’s string of gigs at Croke park began at €60.

July also saw a massive increase in spending at cinemas, which grew 132% following the release of Barbie, Oppenheimer and Mission Impossible Dead Reckoning Part One.

Barbie. Credit: Warner Bros.

The three films have earned €8.2m, €5.1m and €2.3m at the Irish box office respectively.

The average day-to-day spend fell 3% from June with items such as clothing and food taking a hit.

In addition, July saw a big increase in spending in cinemas, increased by 132%, while the number of transactions increased by 136%, following the release of three blockbuster movies Barbie, Oppenheimer, and Mission Impossible Dead Reckoning Part One.

So far, Barbie has earned over €8.2m at the Irish box office, with Oppenheimer earning just over €5.1m, and Mission Impossible earning over €2.3m.

John Brennan, head of SME banking at AIB, said the rainy weather throughout July was felt “across almost all sectors”.

“Cinemas fared very well, with a huge increase in spending following the release of two blockbuster movies,” he said.

“The strong performance by the hotel sector despite the weather is positive, as the summer months are an important time for the industry.”