India’s rising concert economy: A new era of live entertainment

India's live entertainment sector is experiencing unprecedented growth, fueled by a dynamic blend of creativity, technology, and economic potential. The organized live event segment surpassed the INR12,000 crore mark in 2024 and is projected to grow at an impressive CAGR of around 19% over the next three years.

In 2024 alone, India witnessed between 70 and 80 concert days with audiences exceeding 10,000—underscoring a strong appetite for large-scale entertainment. This surge is driven by rising disposable incomes, rapid digital adoption, and an audience eager for world-class experiences.

According to the report, “India’s rising concert economy: Coldplay’s Ahmedabad tour sets the blueprint for India’s next cultural boomtowns” by EY-Parthenon and BookMyShow, one of the key drivers of this growth is the ability of cities like Ahmedabad to host large-scale international music concerts. Notably, Coldplay’s Music of the Spheres concert in Ahmedabad highlighted the city's potential, attracting over 222,000 fans and generating an estimated INR641 crore in economic impact. This not only boosted local businesses but also enhanced Ahmedabad’s global visibility.

The ripple effect of such events extends beyond immediate financial gains. Core impacts include direct contributions such as ticketing revenues and taxes, while enabling impacts span across allied industries such as tourism, hospitality, transport, logistics, and retail. Furthermore, these events foster opportunities for local creators and professionals, promote sustainable practices, and drive inclusivity and diversity.

The success of large-scale concerts like the show Coldplay concert demonstrates the potential of India's concert economy. Tourism saw a substantial boost, with Ahmedabad Airport handling an unprecedented 138,000 travelers over the concert period, while local hotels and restaurants recorded record revenues.

Additionally, the event's sustainability initiatives, such as diverting over 34,000 kgs of waste from landfills and promoting eco-friendly practices, set a new benchmark for future events. The successful execution of such large-scale productions reflects India's readiness and capability to host world-class experiences.

Looking ahead, the India’s concert economy presents vast opportunities for growth. Industry leaders, policymakers and investors must seize these opportunities by embracing innovative business models, sustainable practices and strategic collaborations. This will not only fuel continued growth but also position India as a leading global destination for live entertainment.

As India's youth population continues to grow, alongside rising disposable incomes and interest in live entertainment, the concert economy is poised for significant expansion. Cities across the country are increasingly being recognized as premier destinations for global live music events, attracting international superstars such as Coldplay and driving economic growth.

In conclusion, the rise of India's concert economy signifies a new era for live entertainment in the country. By leveraging increased consumer spending, technological advancements, and a growing appetite for high-quality experiences like the Coldplay India tour, India is set to become a global hub for live entertainment. The collaborative efforts of stakeholders and the strategic investments in infrastructure will be key to realizing this potential, ensuring sustained economic and cultural growth.