Did you just drop a few hundred bucks or more going to a professional sporting event over the weekend? You're not alone.
Consumers shelled out $56 billion to attend sporting events over the past year, according to a new study by CreditCards.com. The amount includes the cost of tickets, transportation, and food and drinks. By way of comparison, that's more than double the $27 billion-plus that Americans spent on book purchases in 2015, according data from the Association of American Publishers.
"The fact that people are spending this amount of money on sporting events shows the emphasis they're putting on experience and memories instead of just stuff," said Matt Schulz, senior industry analyst for CreditCards.com.
Separate data from TeamMarking.com shows the average 2016 cost to attend a National Football League game for a family of four was $502.84. The amount includes four tickets, two small draft beers, four small soft drinks, four hot dogs, parking and two cheap hats. That compares with $363.58 for a National Hockey League game, $339.02 for a National Basketball Association game and $219.53 for an Major League Baseball game.
"There's no question that many sporting events – especially big ones like NFL or NBA games – are becoming harder for the average working American to afford," Schulz said.
| Category of spending | Percentage of American adults who spend on it | Total U.S. annual spend ($billions) | Average annual spend per participant |
|---|---|---|---|
| Sporting events | 34% | $55.90 | $710 |
| Athletic equipment | 29% | $33.40 | $487 |
| Gym membership fees | 23% | $19.20 | $354 |
| Sports-themed video games | 12% | $8.00 | $273 |
| Race entry fees | 8% | $4.80 | $254 |
| Fantasty sports leagues | 4% | $2.30 | $251 |
Source: Source: Creditcards.com
The CreditCards.com survey, conducted in mid-August, shows that that consumers with lower incomes are less likely to attend sporting events. Among respondents, 26 percent have incomes under $30,000 compared with 49 percent who earn more than $75,000.
Older consumers also are less likely to head to a stadium, with just 21 percent of people age 53 or older attending. In comparison, 43 percent of respondents age 18 to 52 attend. Parents are also more likely to splurge on events than non-parents.
Americans also spent more than $33 billion on athletic equipment and $19 billion on gym memberships over the past year, according to the survey. In all, consumers shelled out more than $100 billion on sports-related purchases in the last 12 months.