Culture cut: Aussie arts sector the biggest loser in the cost of living crisis
Aussies are avoiding the arts to alleviate cost of living pressures, according to new research by Finder.
A Finder survey of 1,012 respondents revealed more than half of Australians (53%) have avoided attending everything from musicals to movies in a bid to cut costs.
Almost 2 in 5 (39%) have stopped going to movies, while 36% have passed up a concert because of the cost of living.
The research found 27% have skipped a music festival, and 24% have avoided going to the theatre.
More than 1 in 5 (22%) are doing without comedy shows.
Rebecca Pike, money expert at Finder, said the cost of living was having a major impact on the arts and entertainment sector.
"Declining disposable incomes are leading many Australians to cut back on non-essential spending, including arts and entertainment.
"The high cost of music and comedy events can be a significant barrier for those facing financial pressures."
Pike said the drop in ticket sales could have far reaching implications.
"The arts are a fundamental element of a healthy society with many cultural and entertainment precincts the backbone of community.
"It creates experiences and connections at a time when people might benefit from a positive distraction.
"Declining ticket sales could put Australia's arts culture at risk, but people are simply doing what they can to afford the necessities at the moment."
Pike encouraged Aussies to look for free programs and events.
"There are many free creative experiences around the country – museums, libraries and local council websites are a great place to start.
"As interest rates come down and inflation starts to ease, Aussies should be able to start meeting their basic needs more easily and have more left over for arts and entertainment once again.
"A dedicated entertainment fund is a good way to protect what's important to you in your monthly budget," Pike said.
| Have you avoided attending the following entertainment because of the cost of living? | |
|---|---|
| Movies | 39% |
| Concerts | 36% |
| Music festivals | 27% |
| Theatre (plays, musicals) | 24% |
| Comedy shows | 22% |
| Other | 1% |
| None of the above | 47% |
| Source: Finder survey of 1,012 respondents, May 2024 |
Methodology
- Finder's Consumer Sentiment Tracker is a monthly recurring nationally representative survey of more than 60,000 respondents.
- Figures in this release are based on 1,012 respondents from May 2024.
- The Consumer Sentiment Tracker is owned by Finder and operated by Qualtrics, an SAP company.
- The survey has been running monthly since May 2019.
Looking to build your emergency fund? Here are some tips for budgeting.