MUMBAI: Live Music industry has take a steep rise in the year 2012 and is striving hard to meet the rising demands and deliver better quality. Tickets sales are one of the ways for live shows to be viable in India and one prominent name that has emerged in the ticketing business is KyaZoonga.
Speaking with Radioandmusic.com, KyaZoonga.com co-founder chairman and chief executive officer Neetu Bhatia said, “As the live entertainment space is getting bigger the properties are also growing. But we can still count in our fingers the number of live music performances in India last year. There were more than 6000 live performances in US last year and this means that there is lot to catch up. But growth is significant and we are helping to propel the growth with easy access to tickets.”
As per reports, the ticketing industry including movies, sports and concerts amongst others is worth $3-4 billion and is growing at 60-70 per cent Compound Annual Growth Rate (CAGR) while, live music accounts for only 10-15 per cent of the ticketing pie.
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She added, “Growth has been terrific last quarter. We had three-city Guns N’ Roses concert that had a massive turn out as 50,000 tickets were sold. Growth which can be achieved is tremendous. The pipeline is looking very healthy and there are many acts that will come and there are many new properties coming forward. In terms of growth y-o-y in live events space, it was two times of what was seen last year and three times in terms of revenue and ticket sales.”
Moreover, the industry is hiring young talents with more and more growth taking place. With specialized and skilled ticketing needs in live platform, Kyazoonga had been able to rule the e-ticketing industry for a while by bagging major live events organised by Mooz, Percept and so on. Bhatia said, “We are surely ahead from any new e-ticketing companies with our skills, technology and expert . I do think it’s incredibly hard for anyone to reach were we have. They will not be able to deliver the complexity we can operate in. We can operate 100 retail outlets in less then 24 hours there can’t be any company who can challenge this kind of output. We have created the technology, network and done our ground work and someone else to come and say that they can do it means they need 5-7 years or longer. We don’t see much scope for competition.”
KyaZoonga has been ticketing partners for events abroad but their focus has been the Indian subcontinent. She added, “We will pick up events outside India as well but we have growth in India so we are not actively seeking abroad.”
