Indian Events Industry Growing at 16% CAGR; Overtakes Media and Entertainment Industry at 11-13% CAGR
India’s apex body for events and experiential industry EEMA commenced its yearly convention EEMAgine 2017 on September 8, 2017, with the dispatch of Ernst and Young and EEMA Whitepaper.
The key uncovers of Whitepaper were later clarified by Ashish Pherwani, Partner, Ernst and Young through an adroit introduction at the event. The discoveries of the report reveal that the events and actuations industry in India is relied upon to cross INR 10,000 crore check by 2020-21. Additionally, the industry, which was esteemed at INR 5,631 crore in 2016-17 generally speaking, has been developing at a 16% CAGR, notwithstanding surpassing the Indian media and amusement (M&E) industry, which is developing at 11-13% CAGR.
It is trusted that the key development drivers for this development are computerized enactment, sports associations, provincial extension and government activities took after by IPs, personal events, item dispatches, development of smaller than normal metros and BTL spends. The advanced events and enactments gathered a 8% revenue share in 2016-2017 up from 1% out of 2014.
Talking about it Ashish Pherwani, Partner and Media and Entertainment Advisory Leader, EY India says, “The Events and Activation industry is developing at a quick pace and is relied upon to additionally become exponentially because of its capacity to adjust and develop with inventive technology. With concentrate on more up to date avenues, for example, sports alliances, rustic extension, advanced actuations, expanded Government promoting activities and so on., we see events industry outperforming general development rate of M&E industry.”
Sabbas Joseph, President, Event and Entertainment Management Association remarked, “Event administration has now changed into experience creation with amalgamation of technology, imaginative thoughts and inventive substance. The Indian economy has experienced a considerable measure of changes in the recent past and the Events and Activation industry has turned out unscathed. This exhibits the industry’s quality and capacity to complete things under any conditions.”
The report depends on a review of 64 event administration organizations and 31 advertisers and furthermore uncovers that 73% of advertisers overviewed trusted that their (BTL) spends are set to increment amid the following two years empowering the industry to achieve the valuation of USD 1 Billion by 2017-18.
A portion of the other key discoveries of the report are:
- Overseen events is as yet the biggest section, with around 90% of respondents giving these events.
- Normal IPs and enactments per respondent have multiplied since 2013-14, while normal advanced events per respondent have demonstrated a 9x development since 2013-14
- There is a fall in proportionate revenue created by enactments from 31% of every 2015 to 22% out of 2017, demonstrating that there is an unmistakable move to advanced initiations
- More respondents are giving administrations universally – up strongly from 8% out of 2011 to 56% out of 2017
- Around 75% of every one of respondents’ customers were corporates
- Technology, FMCG, auto, media and diversion and telecom are the biggest clients of the Events and Activations industry
- A normal of 26% of the aggregate workers of the respondents comprise of ladies representatives
- Advanced is driving development, as respondents felt that advertisers spends on computerized events would develop at 20% throughout the following two years.
- Most respondents felt that games would altogether develop at 18%.
- Most respondents anticipated that ticketed events would witness a direct level of development in the following 2-3 years.
- 95% of the review respondents concurred that provincial events and enactments would increase expanded significance over next 2-3 years.
- More than 85% of respondents intend to dispatch new items or properties in the following two years, and right around a fifth of respondents will dispatch at least 3 items.
- Computerized reconciliation was either critical or imperative for the events of 90% of advertisers.