BIG MONEY GIGS

IS INDIA READY TO TAKE CENTRE STAGE AND HOST BILLION-DOLLAR CONCERTS ACROSS THE COUNTRY? THE ANSWERS ARE LIVETUNE IN!

- VIDHI TAPARIA

Food? Check. Washroom visit? Check. Blue wristband? Check. On a balmy Saturday evening in Guru-gram, Abhijeet is all set to groove to Shape of You. His desire to listen to Ed Sheeran live began when he memorised the song in Class 12. On February 15, Abhijeet was in the crowd of 25,000 who swayed in rhythm at Leisure Valley Park.

He is among the millions for whom the concert economy is taking shape in India where the live entertainment economy has surpassed ₹12,000 crore and is set to hit a CAGR of 19% in the next three years. Concerts currently comprise only 1% of this market, but their growth rate outpaces the industry.

India hosted nearly 14,500 concert shows in 2024, estimates an EY report. This includes 70-80 shows that drew more than 10,000 people. There's a massive runway for growth, but they also raise key questions.

The whys

Why is there a demand now? Industry insiders offer a layered answer. Part of the momentum lies in a generational shift. A younger generation that began its journey higher up on Maslow’s Hierarchy of Needs is now earning to spend, not to save, in pursuit of something more valuable—social currency. Adding to this mix are the millennials—professionals who have crossed the threshold of financial stability and are now channelling their disposable income to maximise their lived experiences.

“Anything that is highly experience-driven has tremendous value. A lot of it is a behavioural change after Covid,” says Devraj Sanyal, MD & CEO, Universal Music.

Then there’s FOMO, or the fear of missing out. They are turning up not just for the sound, but for the scene.

Often overlooked is the role of local gigs and campus concerts in shaping the concert audience. No flights, no costly tickets—only a recommendation and a night out. One show becomes three, and the dopamine kicks in. Before long, they start queuing up for larger concerts.