India's live events business set to get buzzier

FOLLOWING THE PANDEMIC, INDIAN CONSUMERS ARE INCREASINGLY SPENDING ON TICKETS TO SEE BOTH DOMESTIC AND FOREIGN ARTISTES

- Shuchi Bansal

You assume that Shoven Shah, founder and CEO of TribeVibe Entertainment will assert that GenZ is driving the live experience business in India given that his company has organized college fests and gigs in more than 75 cities. But Shah says India's live events business is not growing because of any one consumer segment. "People across age groups are thronging live events depending on their tastes. For instance, the Sunburn music festival draws a slightly older audience. Basically, post-Covid, people are consuming more content, spending more money buying tickets to enjoy both international and domestic artistes. Overall, from an industry point of view all events are doing better," he says.

Shah's confidence stems from the 120% jump his business has seen after BookMyShow acquired a majority stake in TribeVibe in 2022 and he started curating all large-scale domestic music and comic tours for the platform. TribeVibe's rise reflects the boom in the organized segment of India's live events industry which saw a 15% jump in 2024 and was valued at 20,861 crore, according to a white paper released at the World Audio Visual and Entertainment Summit (WAVES) in Mumbai last week. Commissioned by the information and broadcasting ministry, the white paper was prepared by EventFAQs Media.