Gen Z is not drinking as much alcohol at concerts as the generations before them. This is causing concern among concert venue owners as alcohol sales continue to decline at live shows. A 2020 study revealed that alcohol consumption has been decreasing among adolescents and young adults for the past decade.
Gen Z, in particular, is showing the most significant decline. This trend is affecting venue revenue, with shows targeting Gen Z bringing in up to 25% less than those aimed at older generations. Some attribute this shift to a focus on mental health and a preference for edibles over alcohol. Additionally, rising ticket prices and stagnant wages contribute to the decrease in disposable income for concertgoers.
Venue owners now face the challenge of finding sustainable revenue streams to ensure their financial viability in the future.
