2019 is nearing the end, and it is unavoidable to look at the meteoric rise in the interest in Live Music Performances amongst millennials. Recent trends and collections show that they pay more for travel, entertainment, and dining than their parents and grandparents do. After a rough week, the thing that would bring absolute joy to them is some form of entertainment, such as going to the movies, pubs or a concert.
Shelling out money on experiences comes with some positive side effects - they not only create memories and anticipation, but they can involve other people and exercise - all of which can boost happiness!
And the Industry has taken note of this.
There are now a plethora of events/music festivals happening across India, especially more of live performances than before. Due to the social media transparency, and information coming easy to millennials, they want to experience their favourite artists live and cherish those moments. A recent example of this would be to see Katy Perry and Dua Lipa perform live at OnePlus Music Festival. Watching your international pop artists perform live in front of you is a sight to behold!
Indian Classical Music is also drawing more youngsters on to their audience; it is clear that the buffet of genres at these music festivals keep every kind of fan engaged with their favourite artists performing.
Sunburn Festival started in 2007 and is now the biggest electronic music festival in Asia. It is the third-largest dance festival in the world and attracts enthusiasts from over 52 countries. NH7 Weekender started in 2010 in Pune and has now become the largest music festival in India catering to an audience of 1,00,000 across all its editions. Gaana Crossblade is another eight-year-old musical tour that grown to become the largest regional music festival in India and aims to promote the spirit of Punjabi music. Deloitte-IMI report states that revenue generated from such events is estimated to be around INR 1,280 crore.
Now Asia's largest Bollywood Music Festival - Bollywood Music Project is back with their 5th edition with an exciting line-up, showcasing more than 50 artists on one platform. The music festival will witness many famous artists that are favourites among the millennials like DIVINE, Divya Kumar, Neh Bhasin, B Praak, amongst many more and will see Vishal Bhardwaj perform live for the first time.
"Bollywood music has always been globally recognized and acknowledged on a large scale. In India, music festivals are becoming an important part of the music culture, and it's great to see how Bollywood Music Project has created a community of music lovers that lives and breathes Bollywood", said Vishal Bhardwaj.
It is undeniable that this trend will fade out at any given time. It is a massive catalyst of revenue and employment for the Industry - with an estimate of 6,010 FTEs being generated.
Fans aren't complaining, Artists are happy to perform for their them, and the Industry is gaining revenue - seems like a win-win for everyone! More festivals? Sign me up!