Investing Around INR 7-8 Cr in ‘The Bollyboom Guru Randhawa India Tour’: Manuj Agarwal, Percept LIVE
by Shantanu Jain Entertainment | May 18, 2018 | Interview
Percept Live Bollyboom
‘Bollyboom’, an Event Intellectual Property from the house of the media giant Percept is one the world’s first and the biggest Bollywood Dance Music Festivals offering a scintillating blend of music, dance and entertainment to its audiences. The property created ripples earlier this year as it hosted a Dance Music Holi Party with Nucleya, DJ Chetas, DJ Aman NagJag, and DJ Shireen on March 13 at Tulip Star, Juhu Mumbai.
Thriving on the momentum gained from its successful execution, the IP custodians Percept LIVE recently announced ‘The Bollyboom Guru Randhawa India Tour’ that will cover 9 cities including Ahmedabad, Bhuvaneshwar, Indore, Mumbai, Pune, Kolkata, Lucknow, Surat, and Guwahati.
This tour style format announcement of Bollyboom comes as a refreshing surprise for the lovers of Bollywood Music. As the property moves to different cities through this edition, it is clearly set to benefit from monopolistic position in the targeted segments. However, with only one headlining artist on the face of the property this time, there also is a clearly visible challenge if the property custodians will be able to recover costs from the project.
Speaking exclusively to EVENTFAQS, Manuj Agarwal, CEO - Percept Live confirmed that him and his brand Percept are very confident of the 9-city tour with Guru Randhawa and have even bigger plans for Bollyboom in the future. Retorting to the tweak in the overall format claim, Manuj explains, “No the format has not changed, Bollyboom as a music property is focusing on dance music in the overall genre of Bollywood Music. And this format is one of the many products that we have under the home brand of Bollyboom. We did Bollyboom Holi Bash earlier this year which was a product of Bollyboom Occasion, we have similar formats like Bollyboom Arena, Bollyboom Campus and Bollyboom Pop-Up which is for 5-star hotels and other properties. We have picked up Guru Randhawa as artists like him, Badshah and Honey Singh produce dance music. They enjoy a massive popularity and the audiences love grooving to their songs.”
Guru Randhawa clearly is one of the biggest and the most popular artists in the country right now following the magnificent success of songs like Lahore, Ban Ja Tu Meri Rani, Patola, Suit Suit and others. However, if the recent concerts of Arijit Singh and AR Rahman are anything to go by, they’ve proved that merely the popularity of an artist is not enough to guarantee ticket sales. In fact, the Arijit Singh concert that ended earlier this year had to be cancelled in 2 cities because of the same reasons.
Commenting on the viability of the tour Manuj shares, “The success of any event property depends on its economics and feasibility. It is indeed true that Arijit Singh is bigger and might sell more tickets, but the fact of the matter is that he was not selling enough tickets to recover the cost of his concert, whereas Guru Randhawa is so much more feasible to us because we are looking at creating elaborate experiences for around 4000 audiences. Our shows in Mumbai and Pune are 3000 people capacity shows but still that will not make us lose money. At price point, our tickets are below INR 1000 and also at Percept LIVE, we have the ability to get good sponsors on board which helps share the financial burden immensely. Lack of sponsor support is one of the major reasons why Arijit Singh shows got cancelled. Same goes for the AR Rahman concerts by Bookmyshow.”
Manuj clarifies that ‘The Bollyboom Guru Randhawa India Tour’ has already got support from sponsors like Kingfisher Storm (5 Cities), 8 PM (Lucknow), Red Bull (9 Cities) and several other partners. He adds that each city concert will also have a myriad of local sponsors as well.
When questioned about the total investment by Percept LIVE in the tour Manuj reveals, “We will be investing around INR 7-8 Cr. In the The Bollyboom Guru Randhawa India Tour. Our plan with Bollyboom is to make it the premium Bollywood Music Dance Experience brand for Bollywood lovers across the world.”
‘The Bollyboom Guru Randhawa India Tour’ will cover 9 cities including Ahmedabad, Bhuvaneshwar, Indore, Mumbai, Pune, Kolkata, Lucknow, Surat and Guwahati.