Buzzword or Buzzkill?
There has been a resurgence of live events following pandemic-era shutdowns, and prices have gone up in response. Analysts are describing this phenomenon aptly as “funflation”.
Everything from concerts to football games to theme parks has gotten pricier. In fact, the rate of funflation is outpacing actual inflation.
The Spending Strain
During the pandemic, families squirreled away savings. As the world opened up again, many eagerly splurged, including on live entertainment.
But the celebration was short-lived, and many are finding themselves forced to cut back on leisure spending.
Of course this is coming in the wake of Taylor Swift’s Eras tour and Beyoncé’s Renaissance tour, which were billion dollar events, big enough to move the needle on inflation and economic activity. Still, after all this, Americans are feeling tapped out.
The numbers show the response: The post-pandemic rebound in live event demand has slowed.
Even so, inflation continues to show up in entertainment costs. Disney (DIS) recently raised the entry fee to Disneyland by 8% for the most popular days. Let’s hope fun won’t become a luxury only few can afford.
Read more reporting here .
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