On the edge of a digital event era: Which innovative factors influence the willingness to pay for virtual concerts?

This study examines the willingness to pay (WTP) for fully-simulated virtual reality (VR) concerts. The results indicate that the intention to purchase (IP) concert tickets is strongly influenced by payment attitudes, followed by perceived behavioral control (PBC) and subjective norms (SN). Customers’ attitude towards VR concerts is positively influenced by the perceived ease of use (PEU) of virtual concert platforms and perceived usefulness (PU) of VR concerts. PEU strongly affects PU. The significant impact of PEU on PBC indicates that the skills and resources to use virtual concert platforms are important for attending the concerts. The WTP for fully-simulated VR concerts is influenced by monthly income, attitude towards VR concerts, and IP. Price ranges increase as the PU and PEU of virtual concerts increase. The majority of respondents have a WTP between €35 and 39.99 for fully-simulated VR concerts. Crucially, cluster analysis reveals that three market segments—''VR concert supporters with medium WTP,'' ''well-off academics with high WTP,'' and ''young consumers of the future''—are important target groups for fully-simulated VR concerts, whereas the cluster ''VR concert refusers'' is less accessible.