The data analytics division of ticketing outfit TEG has analysed the online behaviour of 12 million Australian’s to reveal the hotspots in the local entertainment sector.
Each year Australians spend more than $40 billion on entertainment which includes the associated advertising and media components.
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Conducted by TEG Analytics, the project mapped the entertainment preferences of more than 12 million Australians, a data science project of unprecedented scale and insight.
The analytical project looked at spending on entertainment, the most popular genres, frequency of visits to sports and entertainment venues and related travel and tourism activities.
Some key findings of the analysis:
- Arts, music and cultural events are enjoying a boom. Growth in attendances has been almost 10 per cent year-on-year since 2010;
- Arts, music and cultural audiences are getting younger. The percentage of people aged 35 and below has almost doubled from 18 per cent to more than 30 per cent of arts and cultural attendance;
- In the arts, music and cultural sector, theatre attendance has grown by more than 34 per cent since 2010;
- Of those who are strong supporters of the arts, more than 40 per cent still attend one or more sporting events in the same year;
- The stereotype that hard-core sports fans are reluctant to attend arts events has been debunked. Committed sports fans have relatively high attendance at theatre and music events;
- The data shows that arts, music and cultural tourism in Australia is at a record high;
- More than 36 per cent of Australians have travelled interstate specifically for a sports, entertainment, arts, music or cultural event;
- 43 per cent of people booking travel for business or family reasons subsequently added an entertainment event to their schedule;
- In 2016 international visitors to Australian events reached its highest level since pre-GFC;
- In 2016 Australians clocked up more than 200 million kilometres in travel to and from sports and entertainment events.
According to TEG CEO Geoff Jones, “The massive scope of this analytical project and the quality of the data has opened up a new way of viewing the leisure lifestyle choices of Australians.”
Jones said last year, when TEG established TEG Analytics, these kind of game-changing data projects were missing from the market.
“Now the insights that TEG Analytics have discovered will provide our partners with a rare look at what we are calling the ‘Entertainment Gene’ driving decisions and preferences.”
TEG Analytics has fully segmented more than 12 million Australians into Culture Segments, using demographics, preferences and aspirations.
The new segments define the majority of Australians in terms of which entertainment types best match their purchase power, values and life stage.
“An individual’s choice of entertainment and frequency of purchase are key indicators about what excites and engages that person,” said Andrew Reid General Manager, TEG Analytics.
“It is part of someone’s psychology and influences behaviour. The ‘Entertainment Gene’ is slow to change over time, so the data analysis is relevant for the long-term, and is not based solely on the person’s most recent transaction.”
“Knowing the entertainment ‘hot buttons’ for many millions of Australians has a significant impact on purchase and engagement,” said Reid.
“These Genomes assist in customer intelligence and engagement. From product selection and offers through to creative and media. It’s the basis of an experiential economy.”
Based on this analysis, TEG Analytics is now testing the impact of these Genomes on customer behaviour in several other sectors, including retail, finance, auto and travel.