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.

Zomato has recently been doubling down on its ‘going out business’ which comprises its restaurant, live events and cinema ticketing verticals.

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.

“Over 90% of transactions on BookMyShow for all large-scale live entertainment acts have been online”

“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.

“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”

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.

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%.