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Guns N Roses N Money : Concerts have become big money spinners

The Rise of Live Music in India

The Indian concert economy has experienced significant growth in recent years, with the number of live music events increasing by over 50% in the past two years alone.

The Rise of Live Events in India

The live events industry in India has experienced a significant surge in recent years, with a notable increase in the number of live events taking place across the country. According to the latest data, 30,687 live events were held in 319 cities last year, representing an 18% rise in consumption compared to the previous year.

  • 30,687 live events took place in 319 cities last year.
  • 18% increase in consumption compared to the previous year.
  • Ed Sheeran, Coldplay, Dua Lipa, Diljit Dosanjh, and Maroon 5 drew big crowds.The Importance of Live Events

    • Live events have become an integral part of India’s entertainment landscape, offering a unique experience for attendees.

    The resale market for concert tickets has seen a significant surge in recent years, with many artists and event organizers opting for this model to maximize revenue.

  • Increased demand for exclusive experiences
  • Growing popularity of live events
  • Rise of social media and online platforms
  • Limited availability of tickets

    • The Benefits of the Resale Market

    The resale market offers several benefits to both buyers and sellers. For buyers, the resale market provides access to a wider range of tickets, often at lower prices, and allows them to purchase tickets that may not be available through official channels. For sellers, the resale market provides a platform to monetize their unwanted tickets and earn a profit. • Benefits for buyers:

  • Access to a wider range of tickets
  • Lower prices
  • Ability to purchase tickets that may not be available through official channels
  • Benefits for sellers:
  • Opportunity to monetize unwanted tickets
  • Earn a profit
  • Flexibility to set prices

    • The Challenges of the Resale Market

    While the resale market offers several benefits, it also poses several challenges.

    This trend has been observed in the Indian market, where consumers are increasingly looking for high-quality products and services.

  • Increased disposable income: The growing middle class in India has led to an increase in disposable income, which is driving the premiumisation trend.
  • Quality expectations: Consumers are increasingly looking for high-quality products and services that meet their expectations.
  • Brand loyalty: Consumers are willing to pay a premium for brands that offer high-quality products and services and have a strong reputation.
  • Social status: Consumers are using premium products and services to enhance their social status.The Indian Market

    • The Indian market is a significant player in the premiumisation trend, with consumers willing to pay a premium for high-quality products and services.

    The Economic Impact of Concerts

    Concerts have a significant multiplier effect on the economy, as evident from the record attendance at recent concerts in India. The multiplier effect refers to the increase in economic activity that results from an initial increase in spending or investment.

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