From Coldplay to Diljit Dosanjh: Companies that gain from the booming concert industry

The live music and concert market in India is on an impressive growth trajectory. According to Statista, revenue from music events is projected to touch $222.80 million in 2024, with a CAGR of 2.43% between 2024-2028, reaching a market size of $245.20 million by 2028. The sector is expected to attract a user base of 21.9 million by 2028, generating an ARPU (Average Revenue Per User) of $10.25.

For instance, among the top 5 countries in music events, the U.S. has an ARPU of about $226, the UK around $133, Germany $151, Japan about $138, and Canada $142. In India, it stands at around $10—just 1/10th of the global average.

Globally, the United States leads with a staggering $16.98 billion market share in 2024, but India is seeing a localised surge in concert demand, thanks to a blend of global artists and homegrown talent.

Recent trends and the concert hype

In recent years, concerts in India have transformed from niche gatherings to mainstream entertainment, driven by collaborations between event organizers and digital platforms.

Moreover, companies like Saregama India have entered the live music business with their 'Saregama Live' banner, organizing high-profile concerts in India. The hype among audiences, particularly Gen Z and millennials, is palpable, with ticket sales often running out within minutes.

Saregama India

While the concert business brings high revenue, its nature results in low single-digit margin profitability, but it offers a high Internal Rate of Return (IRR)—a measure of efficient capital use with quick payback periods. In FY24, this segment contributed 2% of the company's total revenue.

Tips Industries

Zomato (via Insider)

BookMyShow

A dominant player in the event ticketing space, BookMyShow has established itself as a major beneficiary of India’s concert boom.

With Reliance Group's 37% ownership via Network18, the platform managed significant partnerships in FY23, seeing revenues from live events jump multifold.

The live music industry in India is more vibrant than ever, with companies like Saregama and BookMyShow leading the charge. As audience demand for unique concert experiences grows, businesses from different verticals are tapping into this space.

With rising disposable incomes and increasing per capita GDP, India’s entertainment sector is set to thrive. As a consumption-driven economy, the nation's passion for music events is unmistakable—evident from the skyrocketing resale prices of Coldplay concert tickets, which commanded an astounding 750% premium over their original cost.

This trend highlights not just the surging demand but also the potential for premiumisation in the concert industry. As consumers increasingly seek unique and high-value experiences, the live music market in India could evolve into a lucrative avenue for businesses to tap into aspirational spending.

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