Passion for cinema in Europe is stronger than ever according to Mastercard research, which reveals that nearly half (47 per cent) of European and international visitors are the happiest when watching a film at the cinema. One in two (47 per cent) of European consumers find the opportunity to attend a film premiere as ‘priceless’ in value, and a similar percentage (48 per cent) consider meeting their favourite actor or actress a one-of-a-kind experience.

For 65 per cent of European and international visitors, the cinema experience makes films more enjoyable than watching elsewhere. The recent opening of Deadpool & Wolverine in Europe drove a surge in European cinema spending, with a 24 per cent week-on-week rise on opening weekend: the European countries with the strongest week-on-week increase in cinema spending upon the release of Deadpool & Wolverine include Denmark, Norway, Germany, the Netherlands and the UK.

The impact of this cinematic enthusiasm extends beyond the screen and can have a continued positive impact on national and local economies. Analysis from the Mastercard Economics Institute on Cannes Film Festival 2024 shows a 198 per cent lift for spend in restaurants and 90 per cent for spend in bars within 10km of the centre of the festival over the 11 days. Much of the increase in spending at Cannes was due to well-heeled visitors selecting more expensive menu items, larger quantities, and higher prices at bars and taverns near the film festival.

This surge in enthusiasm for cinema is part of a broader trend within the experience economy. Data shows that the share of experiences in card spending continues to rise in Europe, to 22 per cent in H1 2024, up from 21 per cent last year and significantly higher than pre-pandemic levels. By June 2024, spending on bars and nightclubs was up 21 per cent year on year, with travel up 18per cent and live experiences up almost 7 per cent.

During a panel event at Venice International Film Festival, Raja Rajamannar, chief marketing and communications officer at Mastercard, said: “We’ve spent the last 27 years understanding our customers and consistently delivering Priceless Experiences that bring them closer to the things they love. We’re observing a growing trend in Europe where more people are refocusing their lives and resources towards their passions, well-being, and meaningful experiences. Through our sponsorship events, such as Venice International Film Festival, Cannes Film Festival, Live Nation concerts and many more, we continue to support and celebrate the things that matter the most to our customers.”

Mastercard has sponsored the Venice Film Festival for the last eight years.

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Categories: Articles, Consumer Behaviour, Research

Tags: Cannes, cinema, deadpool, mastercard, Wolverine