The year 2024 has been celebrated as the "Year of Concerts" in India, with the question on everyone’s mind: "Have you got your concert tickets?" From Diljit Dosanjh to Coldplay, the excitement and enthusiasm among people have been unparalleled, with fans willing to pay premium prices to watch their favourite artists perform live. But what has fueled this extraordinary surge in concert popularity this year?

The reason behind concert hype in India 

Concerts are becoming more popular in India for several reasons. People have more money to spend thanks to rising incomes, and with more people moving to cities, access to concert venues and access to the tickets has become much easier. Many young Indians now see attending large concerts as a way to show off their social status.

Concerts in India have evolved from niche events to mainstream entertainment, thanks to collaborations between event organizers and digital platforms. Post-pandemic, live events have made a strong comeback, featuring performances by artists like AP Dhillon, Arijit Singh, and Diljit Dosanjh, as well as global stars like Dua Lipa at Zomato’s Feeding India Concert. Coldplay’s India tour, starting on January 18th, is also exclusive to BookMyShow tickets.

The live event industry has seen rapid growth, especially in ticketing. Platforms like BookMyShow and Zomato’s ticketing arm have played a major role. In FY23, BookMyShow saw a huge increase in its ticketing income, up 9.5x to ₹237 crores. Apart from this, companies like Saregama India have entered the live music scene with 'Saregama Live,' hosting popular concerts. This surge in live events has created a buzz, particularly among Gen Z and millennials, with tickets selling out quickly.

The rise of the "experience economy," where people prefer live events over passive entertainment like watching TV, has also contributed to the trend. Online ticketing platforms like BookMyShow and Zomato made it easy to buy tickets, making it even more convenient for people to attend.

Also, international artists are recognizing the growing interest in live music in India, leading to more concerts by popular global performers. All these factors combined are driving the boom in live concerts across the country.

There is a growing demand for concerts because more Indians are travelling abroad to watch them. Access to information has also made a big impact on the concert scene. While Indian classical music still has a market, most of the revenue comes from live shows with a large audience. "Concerts in the West attract a lot of interest from our audience here. This leads to better production and more money being spent," says Andre Timmins, Co-Founder & Director of Wizcraft International Entertainment.

What lead to the rising cost of tickets 

Several factors contribute to the rising cost of concert tickets, including past concert turnout, an artist's reputation, the scale of the show, and the spending power of local audiences. These elements, combined with rising disposable incomes, have made live music events a major draw for fans across the country.

India’s live music industry is thriving, with key players like Saregama and BookMyShow driving growth. As demand for unique concert experiences grows, businesses from various sectors are tapping into the space, capitalizing on the nation’s love for music events.

With increasing per capita GDP and rising disposable incomes, India’s entertainment sector is poised for continued growth. The skyrocketing resale prices of Coldplay concert tickets, sometimes reaching a 750% premium over their original price-highlight the enormous demand and potential for premium experiences. 

This trend is not just about the growing interest in live events but also about the shift towards premium, aspirational spending, making live concerts in India a lucrative opportunity for businesses and a vibrant part of the country’s entertainment landscape.

What this rising hype of concerts reflects

The rising hype surrounding concerts in India shows how the country is embracing live performances with enthusiasm, moving beyond traditional forms of entertainment. These events are not only adding excitement to the cultural landscape but also boosting the economy. Concerts require a wide range of professionals to manage aspects like ticket sales, stage design, sound engineering, and logistics, creating a ripple effect that benefits related industries such as hospitality and transportation.

In today’s digital era, live performances have become a crucial income source for artists, as music sales alone no longer sustain their careers. Concerts play an essential role in providing musicians with a steady revenue stream, helping ensure the longevity of their careers and supporting the broader creative industries they belong to.

The live music scene in India is thriving, with major players like Saregama and BookMyShow at the forefront. As the demand for exceptional concert experiences rises, businesses across various sectors are beginning to explore opportunities in this space.

India's entertainment industry is transforming rapidly, driven by rising disposable incomes and an increasing per capita GDP. The country’s love for music events is evident in the skyrocketing resale prices of Coldplay concert tickets, which sold for 750% more than their original value.

This trend showcases not only the growing demand for live music but also the significant potential for premium experiences in the concert industry. As consumers seek more exclusive and valuable experiences, the live music market in India is set to become a lucrative opportunity for businesses looking to capitalize on aspirational spending.