Ed Sheeran and Diljit Dosanjh jamming to a Punjabi song seems unbelievable. But they did. On March 16 this year the I am in love with the shape of you, singer called the Punjabi star-singer of Jatt and Juliet on the 360-degree, revolving, stadiumlike, stage created at the Mahalaxmi Race Course in Mumbai.
The (reportedly) 50,000-plus audience that paid an average of ₹9,000 per ticket, went berserk.
The Sheeran concert was produced and hosted by BigTree Entertainment's BookMyShow. BigTree in turn is owned by the Reliance Industries controlled Network18. Sheeran's +--÷x Tour (pronounced The Mathematics Tour), Lollapalooza (an American music festival) and Back Street Street Boys are among the big events BookMyShow has produced and sold tickets to in the past 18 months.
"Ed Sheeran sold 3-4 times what he would have sold earlier," says Owen Roncon, chief of business, live events, BookMyShow. The sold-out tickets for shows of Sheeran, Vir Das, Varun Grover, Zakir Khan, Arijit Singh, Mamma Mia among dozens of others are a sign of the boom in live entertainment. The size and scale of the growth, however, is a bit difficult to ascertain.
Live events are estimated to be a third of the ₹8,800 crore that all events including weddings and corporate earned in 2023, says FICCI-EY data. It grew by 20 per cent over 2022.
"The industry is three times the EY numbers," says Deepak Choudhary, founder and managing director, EVA Live which hosts Bollywood Music Project, Social Nation, and the Windmill Festival, among others. Many within the business agree.
That would put events at just over ₹26,000 crore and live entertainment events at roughly ₹7,000 crore in revenues in 2023.
Denne historien er fra July 04, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 04, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Trade on road to recovery but Indian firms tread cautiously
The concluding part of the series highlights stabilising trade ties with Dhaka, but payment delays anda complex bilateral environment remain major concerns
DoT launches new system to block fraud international calls
The Department of Telecommunications (DoT), in collaboration with Telecom Service Providers (TSPs), has introduced an advanced system designed to identify and block incoming international spoofed calls before they can reach Indian telecom subscribers.
PM to launch infra projects, agri schemes in Maha today
Prime Minister Narendra Modi will on Saturday inaugurate infrastructure projects worth ₹32,180 crore in election-bound Maharashtra.
The shrinking presence of smaller parties in Haryana Assembly polls
Since 2014, Haryana's electoral politics has seen smaller parties cede their vote shares to the Bharatiya Janata Party (BJP) and the Congress, a trend that these political parties would hope to buck in this Assembly polls.
DMart stock slips despite strong showing in Q2
Mixed response from brokerages; company had 377 stores till Sep 30
Jio Fin-BlackRock JV gets Sebi approval for MF entry
Jio Financial Services' joint venture with BlackRock to enter the mutual fund (MF) space in India has received the nod from the Securities and Exchange Board of India (Sebi), the firm stated in an exchange filing on Friday.
HDFC BANK'S MSCI WEIGHT SET TO RISE
India's largest private sector lender HDFC Bank is poised to see its weighting increase further in global services provider MSCI indices due to its expanded foreign portfolio investor (FPI) investment headroom.
"The mother of all bear mkts in equities is dead"
Developments in West Asia have triggered a panic-like situation across global equity markets. SHANKAR SHARMA, founder of wealth management firm GQuant Investech, spoke with Puneet Wadhwa in New Delhi about escalating tensions between Israel and Iran. Edited excerpts:
Higher e-auction share crucial for Coal India stock
Coal India (CIL) has reported a production of 51 million tonnes (mt) for September, up 10.4 per cent month-on-month (M-o-M), but down 1 per cent year-on-year (Y-o-Y).
Sebi proposes measures to boost retail participation in G-Sec mkt
The Securities and Exchange Board of India (Sebi) is considering initiatives to promote retail participation in government securities (G-Secs) through stock brokers.
