Oasis Reunion Tour Expected to Rake in Over £1bn, Study Shows
A recent study by Wonderwallets, part of the Barclays Consumer Spend report, has revealed that fans of the iconic British band Oasis are expected to spend more than £1.06bn on the reunion tour, including tickets, accommodation, food, drink, outfits, and merchandise. The study estimates that the 1.4 million fans attending the 17 UK tour dates will spend an average of £766 per person.
The band’s comeback concerts after a 15-year hiatus are expected to be the most popular and profitable run of gigs in British history. According to the study, fans will spend the most on accommodation, with an average of £108, while travel and new outfits for the concert will also attract a considerable spend, calculated at £70.50 and £73.70, respectively. Merchandise is expected to generate an average spend of £59.70 per fan.
The excitement around seeing Liam and Noel Gallagher perform live again has been marred by a scandal over "dynamic" ticket pricing, which led to some fans paying more than £350 for tickets with a face value of £150. This has prompted an investigation by the UK competition watchdog. However, six in 10 ticket holders said that while they had spent more than planned on tickets, they believed the experience of seeing the Gallagher brothers perform live would be worth it. A quarter of ticket holders said they wished they had spent more to secure better tickets.
The study also found that almost 30% of fans surveyed said they intended to embrace 90s fashion trends at the concert, sporting baggy jeans, tracksuit jackets, and trainers, while 14% are going as far as sporting a haircut inspired by the Gallagher brothers. In justifying the cost, 16% of fans said they had bought tickets as a gift, while 30% described it as a "sentimental purchase" due to the significance the band’s music had played in their life.
The £1.06bn estimate exceeds the estimate Barclays made for Taylor Swift’s Eras Tour of £997m, although Oasis are playing two more nights than the US singer’s UK tour last year. Rich Robinson, the head of hospitality and leisure at Barclays, said: "The experience economy is no longer a trend, it is a fundamental shift in how consumers determine their financial priorities. Just as we saw with the Eras Tour, fans are willing to go to great lengths when there is an emotional connection. It isn’t just about attending the event."
Barclays said the Oasis spending spree was part of encouraging signs in the hospitality and leisure industries, with overall consumer confidence in spending on non-essential items – such as concert tickets, experiences, and other events – surging 60% in April to the highest point in three years. The study’s findings suggest that fans are willing to splurge on the reunion tour, with more than £75 expected to be spent on pre-concert food and drinks, and the cost of a pint at venues such as Wembley Stadium and Manchester’s Heaton Park expected to hit about £8.
As reported by The Guardian, the study’s findings highlight the significant economic impact of the reunion tour on the hospitality and leisure industries. The report also notes that the investigation into dynamic ticket pricing is ongoing, with fans expressing frustration over the high costs of tickets.
The study’s findings demonstrate the enduring popularity of Oasis and the willingness of fans to spend significant amounts of money to experience their music live. As the band prepares to take the stage, fans are gearing up to shell out more than £1bn to be a part of this historic reunion tour.
The research was conducted by Wonderwallets, part of the Barclays Consumer Spend report, and the findings were reported by The Guardian.
