India Gears Up To Become a Global Live Entertainment Powerhouse by 2030

With booming media innovations and a burgeoning consumer base, India is poised to join the top five global entertainment hubs by 2030. A white paper released at the WAVES 2025 Summit in Mumbai highlights the strategic importance and growing trajectory of India's live events landscape.

The thriving media sector, digital innovation, and an expanding consumer base are poised to propel India into the ranks of the top five global entertainment destinations by 2030. The World Audio Visual and Entertainment Summit (WAVES) 2025, hosted at Mumbai's Jio World Convention Centre, serves as the launch pad for a new white paper commissioned by the Information & Broadcasting Ministry. Union Minister of State for Information & Broadcasting and Parliamentary Affairs, L Murugan, is slated to unveil "India's Live Events Economy: A Strategic Growth Imperative" on May 3 at the summit.

The white paper provides a thorough investigation into India's burgeoning live entertainment sector, spotlighting emerging trends, growth patterns, and strategic proposals for sustained progress. The live events industry in India is witnessing a transformative shift, evolving from a fragmented entity to an organized, significant component of the country's cultural and creative economy.

The years 2024 to 2025 signify a turning point, with renowned international acts such as 'Coldplay' performing in cities like Ahmedabad and Mumbai, showcasing India's preparedness for hosting major global events. Noteworthy trends in this sector include a surge in event tourism, marked by nearly half a million attendees specifically traveling for live music events, heralding the growth of a vibrant music-tourism economy.

Premium ticketing options, such as VIP experiences, curated access, and luxury hospitality, have shown an annual growth of over 100 per cent, indicating an audience increasingly driven by experiences. There's a notable rise in participation from Tier-2 cities, propelled by multi-city tours and the increasing popularity of regional festivals. The organized live events segment achieved a 15 per cent growth in 2024, adding Rs 13 billion to revenues, thus becoming one of the media and entertainment ecosystem's fastest-growing divisions.

Currently, large-scale events contribute to around 2,000 to 5,000 temporary jobs each, highlighting the industry's growing impact on employment and skill development. With strategic investments, policy backing, and infrastructural enhancements, India is on a trajectory to establish itself as one of the top five live entertainment destinations globally by 2030, thereby unlocking avenues for economic growth, employment opportunities, tourism, and an enriched global cultural footprint. (ANI)

(With inputs from agencies.)