Pros:
– Increased spending on live entertainment boosts the economy and supports the industry.
– More opportunities for artists and performers to showcase their talents and earn a living. – Enhanced fan experience with bigger and more extravagant events. – Potential for job creation in the entertainment sector.
– Greater cultural exchange as more international artists perform in different countries.
Cons:
– Rising ticket prices may make live entertainment less accessible for some individuals. – Increased competition for booking popular artists and securing event tickets.
– Risk of oversaturation and declining quality as demand for live entertainment grows. – Environmental impact from larger-scale events and increased travel.
– Economic disparity between those who can afford to participate in funflation and those who can’t.
Bank of America asserts that the trend of extravagant spending on live entertainment will persist, defying expectations that such spending would only be temporary. This phenomenon, aptly dubbed ‘funflation,’ signals a continuous demand for immersive experiences in the entertainment industry.
