Indian Economy News

Entertainment sector leasing registers 179% Y-o-Y growth.

  • IBEF
  • February 21, 2024

The Indian entertainment sector, including movie theatres, gaming arcades, and children's play areas, boomed in 2023, doubling its occupied space to 660,000 sq ft, compared to 240,000 sq ft in the previous year. This surge is attributed to increased consumer spending on leisure and entertainment.

This segment's share of overall retail leasing jumped from 5% in 2022 to 9% in 2023, indicating a growing demand for in-retail entertainment experiences. Digital ticketing, immersive experiences, and sustainable infrastructure attract visitors while reducing costs and environmental impact. Collaborations with established brands are further differentiating retail spaces and driving footfall. The return to normalcy post-pandemic and blockbuster movie releases revived cinema demand, while cities like Bangalore witnessed major brands securing space in retail areas. This trend is expected to continue, offering exciting opportunities for investors and developers.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.