In an era when other major sectors of India’s Rs 2,50,000 crore entertainment economy—movies, television, and OTT—are facing multiple challenges, live events, or out-of-home entertainment, have emerged as a beacon of hope. They have unlocked significant growth and monetisation opportunities for the beleaguered industry, and are fast establishing India as a global live entertainment hub.

Though these events still occupy a relatively small share of the country’s overall media and entertainment landscape, the segment, particularly live concerts, has witnessed phenomenal growth in the last 15-18 months. This was propelled by post-pandemic “revenge consumption”, alongside macro-economic factors such as rising disposable incomes, an app-based ticketing and payments revolution, and an increasingly younger population that values immersive social experiences over material possessions.

“We’ve seen this story play out elsewhere, too. With growing disposable income, rising GDP per capita, and other macro trends, people tend to shift from products to experiences,” Rahul Ganjoo, CEO of District by Eternal, tells The CapTable. “We’re also seeing a generational change from millennials to Gen Z; those who can afford both products and experiences are choosing both, but Gen Z tends to choose experiences over products,” he says.

As the country gears up for yet another musical weekend, this time headlined by iconic hard rock band Guns N’ Roses, which returns to India after 12 unhurried years, concerts, which have become giant money-spinners, are being regarded as a major shot in the arm for the ailing entertainment sector.

A game-changing year

2024 was a watershed year for India’s live music scene. Buoyed by the much-hyped returns of global music giants such as Coldplay, Ed Sheeran, Dua Lipa, Bryan Adams, Maroon 5, Shawn Mendes, and Imagine Dragons, almost 250-plus “top-tier” music concerts took place in India in the last year alone, according to EY.