Live concerts’ boom in India: The show's just beginning! 

When Coldplay plays live in India on January 18 next year, it will be the first show in eight years for the British rock band. The long wait has scarcely made a difference to interest levels. Just a look at the frenzy for tickets confirms that.

When tickets for the three shows went up for sale in the third week of September, they were priced at a minimum of Rs 2,500 all the way to Rs 12,000. Around 0.18 million tickets were for sale with at least 10 million people looking to buy them. Later, in the unofficial black market, each ticket was said to have been sold for around Rs 9 lakh. It is a clear indication of not just how much discretionary money there is in India but also the booming market for live concerts.

A lot of the demand and interest is being attributed to more Indians travelling overseas to watch concerts. That said, just the access to information has changed the concert scene dramatically. Though, there is a market for Indian classical music, the large chunk of the revenue is driven by live shows with a mass following. “Shows in the West generate a lot of interest among our audiences here. It leads to higher production values and money will be spent if that takes place,” says Andre Timmins, Co-Founder & Director Wizcraft International Entertainment. Though there are no official numbers, it is estimated that each of Coldplay’s shows will garner a revenue of at least $10 million (upwards of Rs 80 crore) or a cool Rs 250 crore overall. “The business is at the most interesting tipping point and can grow sharply from here.” A report put by EY last year, places the market for live concerts at Rs 805 crore, and within the overall music industry, it remains the smallest piece.

The part that stands out is how the industry is segmented. Take the instance of 64-year-old Bryan Adams, known for the chartbuster Summer of ’69 song, and a familiar name in India. Two days ago, he added Goa to his list of Indian cities where he will play next month. The other cities—Kolkata, Shillong, Gurugram, Mumbai, Bengaluru and Hyderabad—are an indication of how widespread music interests are. The tickets for the Goa concert start from Rs 2,499 and go as high as Rs 16,999. Adams’ last show in India was in 2018. “It all comes down to scale, and that makes it very appealing to the audience in India. It is no different from what you might see in any other part of the world,” says Timmins.

The likes of Diljit Dosanjh are also big names here, with high production values. “It is no different from watching Coldplay. When artists from India make it big in the international scene, the interest here takes off significantly,” he explains. Someone like A. R. Rahman is already big in the live show business and has greatly benefited from the mass following that film music enjoys.

Of course, there is also a huge marketing opportunity at many levels. “Music allows a wide platform for brands and businesses to target relevant market segments, based on regional, demographic, lifestyle, and psychographic factors,” points out Salil Vaidya, Fractional CMO & Founder, Korero Marketing Communications. Understandably, the audience for a Coldplay will be very different from what one sees when Bryan Adams plays, or for that matter Dosanjh. “Coldplay are great performers in large venues, while Adams has fantastic music and connects very well with the crowd but will play at smaller venues,” says Timmins.

The part about tipping point from an Indian perspective is fascinating because of the heterogeneity. Vaidya thinks the live performance space will see many more international acts in the immediate future. “One must remember that Indian audiences offer a huge opportunity to musicians and bands from different genres to cast a wider net and increase their following.” In a country where music is easily understood and appreciated, it is only a question of time before more money starts to pour in. “You will see many collaborations and fusion experiments. We could possibly see the emergence of Indo international artists, with many of these initiatives being completely driven by brand marketing opportunities,” sums up Vaidya. And that is music to one’s ears.