Concerts are becoming more and more popular in India, which is an indication of a cultural and economic shift fueled by young people who place a higher value on experiences than material belongings.
Live concerts are becoming a major source of entertainment for India’s youth, causing a cultural shift in the country. Millennials and Generation Z are changing how they spend their time and money as they become more interested in experiences than material belongings.
This shift is about making memories, building relationships, and being a part of something more than oneself—it’s not just about music. An excellent illustration of this change will be the Coldplay performance at Ahmedabad’s Narendra Modi Stadium.
In addition to being the band’s biggest stadium show in India, millions of people nationwide will be able to watch it live on Disney+ Hotstar. This industry-first strategy mirrors how live events are changing in India, where technology and inclusivity are changing what it means to attend a concert.
Young People Value Experiences Before Things
The emergence of concert culture is intimately linked to changes in young Indian consumers’ purchasing habits. According to a recent research, Generation Z’s preference for experiences above tangible items has led to a 39% increase in concert attendance year over year. For today’s kids, going to a live event is about more than simply the music; it’s about creating lifelong experiences, connecting with others, and sharing events on social media.
Boom in Tourism with Rising Concert Craze
In India, the popularity of live concerts is also spurring a surge in travel. The idea of “concert tourism” is becoming more popular as famous locations like Ahmedabad’s Narendra Modi Stadium, which can accommodate over 132,000 people, are chosen by worldwide performers like Coldplay. Because they spend money on lodging, food, and transportation, fans who travel across state lines or beyond to see shows greatly strengthen local economies.
Ahmedabad has established itself as a growing entertainment destination in addition to being the cricket capital thanks to the Coldplay show. The city has started new infrastructure projects to improve the visitor experience in order to handle the surge of tourists.
How it Leads to Economic Growth?
One major factor propelling economic growth in India is the rise in live music performances. In just three months, the “concert economy” has produced an estimated ₹1,600–2,000 crore, according to a Bank of Baroda analysis. If the trend continues, estimates indicate that the yearly potential might reach ₹6,000–8,000 crore. Increased private consumption in industries like food and drink, lodging, transportation, and retail is driving this expansion.
This concert season, ticket sales alone have brought in ₹1,000–1,200 crore. Beyond just direct spending, these events have a multiplier effect. For example, concertgoers traveling across cities have increased demand for services in the accommodation and transportation sectors.
Additionally, the gig economy is booming thanks to job openings for performers, merchants, and event workers. Increased GST revenue from ticket sales and associated services like lodging and eating benefits the government as well. These events are increasingly becoming a significant source of revenue for the exchequer, with ticket GST rates usually in the higher range (18% in most cases).
Technology Adding to it
Historically, only those who could afford tickets and travel to big cities were able to attend a concert by a global musician in India. Nevertheless, these boundaries are being broken by streaming services like Disney+ Hotstar. The platform’s live broadcast of Coldplay’s performance is democratizing access to well-known events by enabling virtual participation from fans around the nation.
In addition to promoting equality, this action demonstrates how technology is transforming the entertainment sector. Additionally, Disney+ Hotstar is improving the virtual experience by providing immersive images and behind-the-scenes material that mimic the enchantment of being at the location.
