Beyond The Ticket Price: Coldplay, Diljit, And India's Evolving Economic Landscape

Tunisha Mishra, a 22-year-old makeup artist in Mumbai earning Rs 20,000-25,000 per month, spent Rs 12,000 to buy two tickets to a Coldplay concert for herself and her partner.

"For me, it is justified to spend so much money on the tickets because I wanted to experience this and not just to show off," she said, adding that she has come across people who are buying concert tickets for a price that is five to 10 times higher than the original price.

"Coldplay’s return to India is a rare opportunity, and spending on it adds to a joyful experience. It’s a difference between what you watch on TV and experiencing it live with friends and family," said Shubhan Tryambake, a Coldplay fan who spent Rs 29,500 on tickets for the concert.

And it’s not about the ‘Coldplay fever’ or about the ‘ticket reselling scam'. What’s noteworthy is how people are spending much more on experiences. Shyam, who works at a consulting firm in Mumbai and earns around Rs 1.8 lakh a month, also spent Rs 28,000 for his ticket for the Coldplay concert. He mentioned that a similar trend was seen when Diljit Dosanjh's concert was announced recently.

"Resellers were inflating prices, where people are buying Rs 3,000 tickets for Rs 30,000," he said. Shyam didn't buy those tickets then but couldn't pull his hands from the Coldplay tickets.

Mohammad Yahya Abrar, a 30-year-old finance manager at a midsized firm in Mumbai, spent around Rs 40,000 to purchase four tickets for his family to watch the Coldplay concert in January.

"Attending a live concert is incomparable to watching performances on reels or television. It's meant to be experienced in the right environment," he said.

Consumers are not only spending more on concerts of international or famous singers but also on events organised by their fans. Priya Kamtekar, a 17-year-old who is a die-hard fan of Taylor Swift, shared that the 'Swiftie' community conducts at least five mid-size events every month, where at least 2,000 people participate. These are events organised by fans where quizzes and games are conducted, and Swift's concerts are streamed.

"These events were earlier attended by only 100-200 people a couple of years (three years) ago, but today the number has gone to 2,000," she added. Kamtekar, a college student herself, spends Rs 1,000 from her pocket money for at least two of these events every month.

After Coldplay, the upcoming concert of Indian singer Mika Singh is also gaining similar traction, with enthusiasts buying tickets at five times the rate, according to Kamtekar.

Ticket resellers also agree to this trend. Shivam (name changed), a 24-year-old Mumbai resident who bought 10 tickets for the upcoming Coldplay concert for Rs 6,500 each from BookMyShow, is now selling them at prices ranging from Rs 50,000 through platforms like Viagogo.

He thought a profit of 669% would be more than enough for him. However, he was surprised to see that many Coldplay fans were ready to buy these tickets for Rs 80,000.

The 'experience economy' is also making a mark at hotels, where room rents have already peaked to Rs 5 lakh per night after the Coldplay concert was announced. Hotel owners are of the view that such unusually high spending on experiences is not a one-off affair.

Hotel owners say they have witnessed a huge demand for musical shows, plays, workshops, cultural events, leisure activities, wellness retreats, adventure sports and even 'fan-base' events.

"We have seen significant value growth from our experiential and recreational activities across our properties. These activities add a layer of personalisation and engagement, leading to extended stays and repeat visits," said Amit Jaiswal, chief financial officer at Royal Orchid and Regenta Hotels.

Travellers are prioritising spending on activities that offer personal enrichment, a sense of exclusivity and social currency. And this surged especially post-Covid-19, according to him.

According to both consumers and experts, such a trend is seen more among Gen Z and millennials, especially among people between 19 and 27 years of age, coming from both affluent and middle-class communities.

Economists connect higher spending on experiences with rising per capita and disposable income.

"This changing behaviour is definitely a sign of a K-shaped recovery in the economy. Many people with average salaries are spending much more on live experiences," said Upasna Bhardwaj, chief economist at Kotak Mahindra Bank. "Such trends are also visible currently in the banking credit scenario."

A lot of loans are now consumer loans, unsecured loans. However, such trends are not alarming and are just a regular behavioural shift seen in growing economies, according to Bhardwaj.