Transformative Trends in the Live Entertainment Industry: Insights from Industry Leaders

by  EVENTFAQS Bureau Entertainment | July 8, 2024 | News

Roshan Abbas Deepak Choudhary Sanjoy Roy Owen Roncon

In today's rapidly evolving landscape of live events, significant transformations are reshaping the industry. From surging ticket sales driven by heightened consumer demand for unique experiences to strategic shifts towards owning intellectual property, the sector is experiencing a profound evolution. Despite challenges posed by infrastructure and regulatory hurdles, industry leaders express optimism about the sector's growth trajectory, highlighting a maturing market ready to innovate and capitalize on emerging opportunities. Published by a prominent publication, here's what industry leaders think about this transformative period: 

Owen Roncon, chief of business for live events at BookMyShow, noted that Ed Sheeran's recent concerts sold 3 to 4 times more tickets than previously expected. He highlighted the pervasive role of social media in today's culture, where even attending live events like concerts becomes content for online sharing. Roncon also observed that at music concerts, approximately one-third of attendees are genuinely engaged with the music, another third are there reluctantly, and the rest are primarily focused on social media engagement. For major events like Sheeran's performances, BookMyShow ensures stringent security and structural engineering to meet high standards. 

Meanwhile, Roshan Abbas, founder of Kommune India, emphasized that post-COVID, younger audiences prioritize experiences over traditional investments like homes or cars, driven by a blend of internet culture and a generational shift. 

Deepak Choudhary, founder of EVA Live, underscored the industry's substantial growth beyond industry estimates, focusing on acquiring intellectual properties like The Edutainment Show and Social Nation to consolidate their market presence. 

Sanjoy Roy, managing director of Teamwork Arts, discussed the growth of live events such as the Jaipur Literature Festival, where previously niche artists like Piyush Mishra now attract large crowds, reflecting changing audience preferences. Roy also highlighted efforts to optimize event attendance and increase profitability through efficient management and reduced reliance on corporate events.