Cho Yong-pil fans gather on May 13, 2023, at the main Olympic stadium of Jamsil Sports Complex in Seoul, where the South Korean pop legend held his concert. The photo is provided by Insight Entertainment.
SEOUL, Aug. 10 (Korea Bizwire) — With the revival of the concert and live entertainment industry after the lifting of COVID-19 restrictions, credit card sales in the concert category have experienced significant growth.
KB Kookmin Card conducted an analysis of credit and debit card transactions for online tickets, revealing that online sales of tickets for pop concerts surged by 34 percent.
The number of purchasing cardholders also rose by 40 percent in the first half of this year compared to the previous year.
Notably, sales of trot concert tickets witnessed a remarkable 134 percent increase, accompanied by a 91 percent rise in the number of purchasing cardholders.
Ticket sales for idol concerts recorded a 17 percent increase, and the number of purchasing card users grew by 31 percent.
Ticket sales for pop concerts also saw a 15 percent jump, while the number of purchasing cardholders increased by 30 percent.
Regarding consumers who bought trot concert tickets, 32 percent were in their 30s, and 25 percent were in their 40s.
Consumers in their 30s constituted the highest spending group for trot concerts, with an average of 220,000 won (US$167) per purchase.
This indicates that many of them purchased the tickets on behalf of their parents.
For consumers who purchased tickets for idol concerts, 71 percent were in their 20s or 30s, whereas 11 percent were aged 50 or above.
Lina Jang (linajang@koreabizwire.com)
