India attracts global artists as fans surge with rising disposable income

India is emerging as a major market for global artists, driven by rising disposable income and extensive digital penetration. In January, British band Coldplay performed to an audience of 220,000 in Ahmedabad, the largest stadium attendance in the 21st century. This trend is expected to continue, with artists like Guns N' Roses and Travis Scott set to perform at festivals later in 2025. According to Chief Business Officer at BookMyShow, Mr. Naman Pugalia, India's immense connectivity, with nearly a billion devices and low data rates, has led to significant exposure among young people to global artists and genres. The country's economic growth and increasing purchasing power make it a viable market for live performances. India's large English-speaking population also attracts English-speaking artists. The live events segment is growing rapidly, reaching Rs. 12,000 crore (US$ 1.42 billion) in 2024, with an expected CAGR of 19% over the next three years. The Coldplay concert in Ahmedabad generated an estimated economic impact of Rs. 641 crore (US$ 75.77 million), including Rs. 392 crore (US$ 46.34 million) directly to the city's economy and Rs. 72 crore (US$ 8.51 million) in GST revenue to the government.

The growth in live entertainment is not limited to international artists; Indian artists are also increasingly organising concerts both in India and abroad. Partner and Leader at EY-Parthenon, Mr. Raghav Anand, notes that the rise in the creator economy, supported by the prime minister, propels live entertainment in India. Cities like Pune, Hyderabad, Kochi, and Bengaluru are seeing increased demand for live events. BookMyShow anticipates revenue from the live events segment will continue to grow in the coming years, shifting from a predominantly movie-based revenue model a decade ago. The success of events like Lollapalooza in India indicates a potential for local innovation and the export of new business models and experiences to the global market.

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