Events & Entertainment: How is India poised from a global standpoint?

?? Introducing Sherlock AI's Latest Breakthrough: Unveiling the Hidden Insights of Event and Entertainment Visitation Patterns! ??

We are thrilled to present to you an exciting edition of our newsletter, as we delve into the world of event and entertainment visitation patterns with Sherlock AI, our cutting-edge data insights tool. Join us on an exhilarating journey where we unravel the mysteries behind the places people visit in the realm of Auditoriums, Banquet Halls, Concerts, Conventions & Exhibition Centers, Events, Performing Arts, and Stadiums.

In today's fast-paced and ever-changing world, understanding human behavior has become an invaluable asset for businesses and organizations. With Sherlock AI leading the charge, we have embarked on a mission to decode the correlations between real-life visitation patterns and the digital footprints of individuals. By seamlessly blending these two dimensions, we unlock unprecedented insights into human interactions and preferences, empowering marketers, event organizers, and entertainment professionals to make data-driven decisions like never before.

Sherlock AI acts as a powerful and all-seeing digital detective, meticulously recording and comprehending the vast array of places an individual frequents. From grand concert halls pulsating with the energy of music enthusiasts, to expansive convention centers abuzz with industry aficionados, and awe-inspiring stadiums echoing the cheers of passionate sports fans – no location escapes Sherlock's watchful eye.

How does India compare in the Global arena?

India, a nation teeming with diversity, culture, and an ever-expanding populace, is poised for a remarkable surge in its entertainment and events landscape. As a country that prides itself on its rich heritage and traditions, India has an inherent love for celebrations and communal gatherings. However, when compared to its developed peers in the West, there is a palpable gap in the scale and frequency of entertainment and events. While the West boasts a thriving industry that caters to a wide spectrum of interests and passions, India has tremendous untapped potential in this domain. By embracing a more robust and varied event ecosystem, India can further harness its vast talent pool, boost its creative industries, and create an atmosphere of excitement and engagement that resonates with its energetic and youthful population. A surge in entertainment and events will not only contribute to the country's economic growth but also foster a sense of unity and joy among its people, transforming India into a vibrant hub of cultural exchange and artistic expression.

India: Still concentrated in ‘Banquet Halls’...Does that even count as proper ‘entertainment’?

We see that among the different types of events spaces and entertainment heavy places considered, a resounding 65%+ came from places which are actually banquet halls (which are usually multipurpose halls which serve a variety of purposes including hosting functions and gatherings)

India still relies a lot on such ‘events’ to amp up its numbers. Other Event spaces take up a solid 11% while conventions and exhibition halls take up 6%. These 3 biggies of ‘informal’ and ‘events’ spaces take up a huge chunk of 82% totally! The rest are divvied up among a lot of other segments.?

US: Well-rounded places poised explicitly for entertainment

Whereas, when we look at US, we see a stark difference. 32% comes from Event space, ~21% from Performing Arts, 24% from Banquet Halls and about 10% from Stadiums.

Proper Entertainment destinations such as Performing Arts (21%), Stadiums (11%), Concerts (4%) actually chalk up to a decent chunk together (which is fairly in contrast to India’s)

A deeper dive into India’s entertainment & events space

Sherlock AI dives deeper into the numbers to not only see the spread of different types of places, but also identify how many people actually visit such places in a said frequency (monthly). Sherlock AI defines average visitation as the average number of people visiting a particular place during a time interval. Say there are a total of X people visiting a total of Y stadiums during the time frame, Average visitation for stadiums is calculated as X/Y.

Though Banquet Halls has the most in terms of absolute numbers (almost 30k), the visitation there is actually pretty small (which suggests that the ‘capacity’ of the halls are smaller and that there is a long tail as well- meaning that, among the 30k banquet halls, only a small percentage actually contribute to a meaningful number of visits). A similar trend is seen across auditoriums and exhibitions as well.?

A shocking revelation is the low average visitation for concerts (which has around just 2x the number of average visitations as auditoriums or banquet halls!). The fundamental reason behind this could be the extremely low prevalence of large-scale concerts. In India, when it comes to music or even ‘concerts’, the headcount is lower which implies that even traditional music ‘orchestras’ which count as concerts on paper (and also has a higher contribution compared to the large scale concerts / tours by renown bands/ artists).??

Performing Arts has relatively higher average visitation at around 5k, and stadiums absolutely take the leaderboard when it comes to average visitations! This makes total sense given the gigantic stadiums India has and the holding capacities at one go. This also has a long tail where the top few stadiums contribute to a huge chunk of visitation. Given that the data analyzed by Sherlock was from Jan 2023, the big uptick for Stadium visitation during IPL (Indian Premier League) also was a major contributor!

But that's not all! We go beyond mere visitation data. Our tool also examines the prosperity index associated with these places, providing a deeper understanding of the economic impact they have on their surrounding communities. By analyzing these intricate connections, we unearth new avenues for growth and opportunities for businesses to thrive.

We are delighted to share these groundbreaking insights with you, and we hope they inspire you to reimagine your strategies and embrace data-driven innovation. The world of events and entertainment is constantly evolving, and with Sherlock AI at your side, you can stay one step ahead of the curve.

Do you ever wish to reach out to someone who watched IPL matches in the stadiums? Or a businessman attending a particular exhibition? Or a high-income consumer who recently attended Taylor Swift’s concert? Sherlock AI not only understands consumer behavior but helps marketers reach out to razor sharp custom audiences!

Want to learn more about Sherlock AI and how you can use it to acquire consumers for your business? GO to https://sherlockai.infiniteanalytics.com/ or drop us a mail at [email protected]