"Spending 3 Million Won Is Worth It"... Millennials and Gen Z Openly Overspending [World is Z Gold]

(35) 57% of U.S. Sports Fans Say They "Overspend for Cheering"
Spending Driven by Sense of Belonging and Happiness
Expert: "Set a Realistic Budget"

Editor's NoteGeneration Z (those born from the late 1990s to the early 2010s) is gaining attention as a generation that leads culture and trends in a rapidly changing era, setting new standards across society. In [World is Z Gold], we shed light on the lives and values of Generation Z around the world, exploring how they are transforming society.

As fandom consumption spreads mainly around professional baseball in South Korea, it is emerging as a new growth engine for the sports industry. Getty Images

'Fandom consumption,' where sports fans generously spend for their favorite teams, is spreading. In the United States, Millennials spent an average of about 3 million won per person annually, with 'a sense of belonging' cited as the main reason for their spending. This trend is also continuing in South Korea, particularly around professional baseball, with fandom consumption emerging as a new growth engine for the sports industry.

"Average annual spending of 3 million won for cheering"... Millennials & Gen Z lead fandom consumption

Ally Bank, an American online bank, recently published a report titled "The Cost of Fandom" based on a survey of 3,000 sports fans. According to the report, 57% of respondents said they had "overspent for fan activities," and the average annual spending per person was calculated at $1,600 (about 2.3 million won). For highly engaged fans who actively participate in cheering activities, the average annual expenditure reached $2,200 (about 3.15 million won).

By generation, Millennials spent an average of $2,050 (about 2.93 million won) per year, while Generation Z spent $1,550 (about 2.21 million won), showing that younger generations are leading fandom consumption. The report especially noted that Generation Z "tends to practice 'sacrificial consumption,' spending more on attending games and purchasing merchandise while reducing spending on dining out and leisure activities."

The reason fans open their wallets appears to stem from the sense of belonging and positive emotions they gain from cheering. 33% of Millennials and 31% of Generation Z responded that "spending on sports gives them a sense of belonging." In addition, 47% and 42%, respectively, said that "cheering activities make them happy."

The report stated, "Sports are an important part of American culture, and many Americans consider themselves sports fans," adding, "A significant number of fans are not just passive observers, but active participants." It further explained, "Whether attending games in person, watching at home, or wearing team uniforms, sports have become an integral part of fans' daily lives."

Lindsay Sacknoff, Head of Consumer Banking at Ally Bank, said, "Fandom is not just about consumption," adding, "It's about the sense of belonging one feels as part of a larger group." She continued, "There's nothing wrong with spending money on things that bring you joy, but it shouldn't come at the expense of your financial health. If you set a realistic budget, the only number you should worry about on game day is the score on the scoreboard."

Fandom consumption is also thriving in South Korea... Record-breaking baseball attendance

On September 27, the professional baseball game between the LG Twins and Hanwha Eagles of the 2025 Shinhan SOL Bank KBO League was held at Daejeon Hanwha Life Ballpark. Fans are cheering. Photo by Yonhap News Agency

Just like in the United States, fandom consumption is becoming increasingly active in South Korea. In the past, fans were content with simply watching games, but recently, a participatory culture has developed, where fans directly engage and enjoy the experience. Among various sports, professional baseball stands out as the prime example of this active fandom consumption.

According to the Korea Baseball Organization (KBO), total attendance for the 2025 KBO League reached 12,312,519, surpassing last year's record of 10,887,705. This year, the average attendance per professional baseball game was 17,101, with a seat occupancy rate of 82.9%. As baseball's popularity grows, spending on cheering merchandise is also increasing. In 2024, the average amount spent on cheering goods per spectator was about 235,000 won. Among them, women in their 20s spent 237,000 won, and women in their 30s spent 273,000 won, both exceeding the overall average.

The spread of fandom consumption is having a positive impact on local economies. The Hyundai Research Institute, in its report "1.1 Trillion Won in Professional Baseball Consumer Spending" published in September, stated, "The recent success of professional baseball is expected to drive domestic economic vitality, especially centered on local economies, through related consumption." The report added, "Since professional baseball not only revitalizes local economies but also has a significant impact on nationwide economic vitality, a variety of policy efforts are needed to maximize these effects."