Market Report: India
As the most-populated country in the world (17.8% of the global population), there’s little doubt that there’s a mammoth market for events in India. Bollywood unsurprisingly dominates the entertainment sector, but attendances at music festivals continue to rise.
Primary ticketing
The September announcement that major event ticketing platform Paytm Insider was being acquired by food delivery giant Zomato for $245m was a key shake-up in the Indian ticketing market. Launched in 2010, Paytm acquired Insider.in – a ticketing platform backed by leading festival promoter Only Music Louder (NH7 Weekender, EDC India) – in 2017.
Zomato has recently been doubling down on its ‘going out business’ which comprises its restaurant, live events and cinema ticketing verticals.
“Over 90% of transactions on BookMyShow for all large-scale live entertainment acts have been online”
However, with over 50m app downloads, 15m tickets sold monthly, and 2bn page views in the same timeframe, BookMyShow maintains its position as the leader in India’s live event ticketing ecosystem. Given its involvement in organising Lollapalooza, as well as a variable pricing strategy that affects ticket prices at timely intervals, it’s no surprise to see the company maintain its status as India’s foremost option for purchasing tickets.
Other players include DIY operator Townscript (who entered an investment partnership with BookMyShow in 2016) and TicketGenie, which specialises in the ticket sales for high-profile sporting events.
Distribution of sales
With India’s rapidly growing status as a viable stop for touring artists, there is a markedly noticeable shift in ticket purchase methods.
According to Statista, the market is set to be valued at $333.5m.
“Over 90% of transactions on BookMyShow for all large-scale live entertainment acts have been online,” explains Owen Roncon, chief of live events business. “We issue a mobile ticket, which is accessible on our app and includes a QR code that can be scanned for entry, or an e-ticket shared via email,” adding that wristbands are delivered prior to events for additional verification.
Value of market
In 2023 alone, almost 13.5m people attended 26,539 BookMyShow events. “We’ve also seen a large number of attendees flocking in from [other regions], tagging right behind major hubs such as Mumbai, Bengaluru, and Delhi- NCR,” enthuses Roncon.
According to Statista, the market is set to be valued at $333.5m.
Secondary ticketing
Scalping and reselling are illegal. “In a price sensitive market, which has a massive growing middle-income populace like India, resale as a business model is far from favourable or encouraged due to existing consumption demand patterns,” explains Roncon.
International/domestic splits & genres
Domestic acts still dominate. BookMyShow’s findings demonstrate an increase of nearly 500% in sales since Covid restrictions ended in March 2022. There’s been a focus on newer talent, attracting a massive fan-following across all genres.
“The uptick in globally recognised acts performing in India at festivals … in which they also share the stage with homegrown talents, means we’ve been able to double the inflow of international acts in the last few years”
Despite heavy reliance on local acts, the success of Lollapalooza and international tours means the gap should narrow. “The uptick in globally recognised acts performing in India at festivals … in which they also share the stage with homegrown talents, means we’ve been able to double the inflow of international acts in the last few years,” says Roncon.
Cultural analysis
While Bollywood isn’t relinquishing its crown anytime soon, there’s a clear upward trajectory in the number of people seeking various experiences on stage. According to BookMyShow, over 45% of the audience is Gen Z.
Ticket sales for electronic music is at an all-time high of 62%, with sold-out shows and festivals such as Sunburn in Goa (Asia’s largest EDM fest). In terms of popularity, hot on the genre’s heels are pop and hip-hop and bands such as Cigarettes After Sex, who are scheduled to perform across three cities next year.
Taxes & charges
Pre-pandemic, the live ents sector was taxed at the maximum rate of 28% under the country’s Goods & Services Tax (VAT). In an effort to speed up the industry’s recovery post-pandemic, the government brought the rate down to 18%.
Country Profile: India
With a vested interest in witnessing live entertainment and a massive English-speaking population contributing to an “extremely healthy live scene,” according to BookMyShow’s Owen Roncon, India is rapidly developing a reputation for being a major stop for international artists on tour or as festival headliners.
“Thanks to the Internet, the walls have come down,” says the ticketer and promoter’s chief of live events business. “90% of our formal education is in English, and some of the world’s largest Spotify numbers are coming out of India. Before, we were 20 or so years behind a trend, but thanks to constant exposure to content from outside of India, we’ve now caught up with the rest of the world.”
With Dua Lipa and Coldplay scheduled to perform later this year and next March, respectively, Only Much Louder’s Rishabh Nahar – whose company founded the annual three- day NH7 Weekender festival 14 years ago – believes it’s only a matter of time before the world takes notice of India as a vital tour stop for globally renowned performers.
“The number of successful tours we’ve had in recent years, from bands like Alt-J, Wolf Alice, and Cigarettes After Sex, is proof that audiences here love discovering artists, and hosting talents of that calibre simply showcases the immense potential of ticketing scale and production value that India has to offer to the world,” he says.
“The number of successful tours we’ve had in recent years, is proof that audiences here love discovering artists, and hosting talents of that calibre simply showcases the immense potential of ticketing scale and production value that India has to offer to the world”
Having overseen another star-studded Lollapalooza – headlined by Jonas Brothers, Stine, Halsey, and OneRepublic – as well as a sold-out Ed Sheeran show in Mumbai, Roncon believes that one of the pivotal factors in the Indian market’s recent successes comes down to who fans are seeing onstage.
“I wouldn’t class India as a genre market but rather a ‘headline’ market,” he explains. “The trend is to follow the larger noise, which internationally speaking, usually involves a major pop artist,” adding that the market is in the midst of embracing the emergence of the performer. “Talent alone isn’t enough to break through to a larger venue. People want to see showmanship onstage.”
Given that the Middle East-to-India passage is a natural route for artist tours, UAE-based All Things Live have also increased their presence in South Asia by partnering with SG Sports and Entertainment to co-promote some events – including a Bryan Adams tour across several Indian cities in December later this year.
“Thanks to the booming usage of platforms such as YouTube and Spotify, entire generations have been exposed to a wider range of music than ever before”
With nearly 20 years of experience working with local live event promoters, as well as setting up VH1 in India, Jitin Abraham says he has never seen such a massive demand for international music quite like the post-pandemic years.
“Thanks to the booming usage of platforms such as YouTube and Spotify, entire generations have been exposed to a wider range of music than ever before,” the music business veteran explains, also referencing the increasing number of people that are attending gigs and festivals. “Back in the day, you’d have to give away free tickets or have people on the guestlist to guarantee attendances, but nowadays, fans don’t think twice.”
However, infrastructure remains a major issue. “We don’t have a string of venues that are designed for performances that have a capacity of around 5,000 in multiple cities,” says Abraham. “Even at a grassroots level, there aren’t enough 500-capacity spaces in teeming metropolises such as Mumbai or Delhi. You can literally count them on one hand.” The lack of architectural and real estate investment has proven to be a major disadvantage for local promoters who can’t afford to take huge risks such as converting greenfield sites into viable concert venues. “Infrastructurally speaking, we’re not there yet.”