The Biz: Gen Z Flexes As Live Music Consumers; House Dems Call StubHub CEO To The Carpet; UMG Earnings & More

Gen Z is now spending more on concerts than Millennials, long the biggest-spending demographic.

Luminate’s U.S. Music 360 report found that Gen Zers who attend live events spend an average of $101 on concerts monthly, ahead of the $94 average for their Millennial counterparts.

Interestingly, despite the constant sturm und drang around ticket prices, Zoomers’ resistance has softened significantly. While cost, as it always has been, is listed as the top factor keeping fans from attending shows, the level of pushback has declined. In 2024, 75% of Gen Z said it was the most significant factor preventing concert attendance. In Q1 of 2026, that was down to 57%. Interestingly, the percentage of Gen Z who reported attending multiple concerts a year is increasing and the percentage of those who say travel is the biggest factor working against concert attendance has cratered.

Much of this could be attributed to the inexorable march of time. The oldest Zoomers are nearing 30 and the youngest are entering high school. Travel burdens are less as a generation ages and earns their own income.

House Democrats Say StubHub CEO Has Some Explaining To Do

After revelations that StubHub CEO Eric Baker is a part-owner and managing director of Andro Capital, a hedge fund that sells millions of tickets on StubHub’s platform, House Democrats on the Oversight Committee want answers.

Robert Garcia, the top Democrat on the committee, sent a letter to Baker July 24 saying the committee’s Democrats want an investigation into whether Baker has a hand in manipulating the secondary ticket market.

”Reports suggest that you have financed and profited from the very scalpers that are locking fans out of affordable ticket sales in the first place, and that you are further ripping off
consumers and smaller sellers by giving yourself preferential treatment on the StubHub platform,” Garcia wrote. “The CEO of the marketplace
also financing scalpers—and serving as a mass scalper himself—opens the door to a whole new level of advantage. The affiliate agreement between StubHub and these hedge funds poses ethical concerns that one industry expert described as ‘very deceiving.’ Your alleged collusion with these funds also raises serious concerns about whether you have engaged in market manipulation and selfdealing at the expense of consumers.”

UMG Reports $3.8B In Q2

Universal Music Group reported revenues of €3.294 billion ($3.83 billion) in the second quarter of 2026, a 13.3% increase over the same quarter last year.

“We’re delivering on our strategic plan, and working to further sharpen our execution, while capitalizing on the opportunities presented by new technologies and the ever-evolving music ecosystem, CEO Lucian Grainge said. “Our unique combination of global reach, local expertise, artist development, vast audio and visual IP and entrepreneurial culture positions UMG to deliver long-term growth, sustained value creation, and creative and commercial success for our artists and songwriters.”