Entertainment perks pay off for Singapore banks in card spending, sign-ups
Banks are using star power and priority ticket access to grab card market share.
Banks in Singapore are leveraging entertainment partnerships to boost credit card spending and sign-ups, with UOB reaping significant rewards from Taylor Swift's Singapore tour in 2024. UOB cardholders from Southeast Asia spent over $30 million on concert tickets while the official banking partner, with spending jumping more than 35% during the concert period.
Card sign-ups increased almost 120% immediately after the tour announcement compared to a similar period a month earlier. UOB is now offering cardholders priority access to Maroon 5's concert in February 2027 and a private concert featuring Cantopop star Sammi Cheng, accessible only through its UNI$ reward points program. UOB's personal financial services head, Jacquelyn Tan, explained that the private shows for UNI$ holders are the first of their kind and designed to reward loyal customers with access that money cannot buy.
The bank attributes higher average monthly spending and lower attrition rates among customers who use entertainment perks to their strong relationship with the bank and multiple banking relationships. Other banks, such as OCBC and DBS, also see entertainment partnerships as a way to engage card customers, with OCBC offering priority ticket sales for Hong Kong superstar Jacky Cheung's concert in 2025.
OCBC head of card payments Regina Lim said entertainment partnerships help reinforce brand salience and keep the bank at the top of customers' minds, though long-term usage remains anchored in core value propositions like cashback, miles, and rewards. Similarly, DBS promotes lifestyle benefits like entertainment discounts, priority access, and curated privileges for entertainment and lifestyle events, with data showing customers who use their DBS or POSB cards for entertainment purchases spend three times more than those who do not.
However, the sustainability of newly signed-up credit cards after concert promotions remains uncertain, as banks that treat the concert as the start of the relationship are more likely to retain customers long-term.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
