The industry is expected to witness a CAGR of 2.5% and reach INR 275 billion.
Performing arts have been prevalent in our culture since millenniums and offer a unique human experience that bridges cultural and generation gaps. India has a rich history of performing arts; it has been the cornerstone of the art & culture of our country. The performing arts’ industry includes theatre, dance, opera, musical theatre, magic, mimicry, spoken word, illusion, puppetry, circus arts, recitation and public speaking. The performing arts have been showing a healthy growth rate and pose a multitude of opportunities for the artists and craftsmen as well as the aspiring entrepreneurs. The industry is expected to witness a CAGR of 2.5% and reach INR275 billion.
This opens up a whole new opportunity for entrepreneurs to invest in the growing market of the performing arts’ franchise. Below are the reasons why performing arts is a profitable franchise business in India.
The increasing national and international exposure towards theatre, dance and music has led to the rising demand for performing arts’ franchise. As the education system is going through a paradigm shift, there has been an increased focus on extra-curricular activities to develop an individual’s skills. With the emergence of the internet, talent shows etc, people are looking forward to joining the performance arts’ industry. They are especially gaining traction among the younger demographic.
With the emergence of all modern forms of entertainment, such as the internet, especially social media and online gaming, performing arts such as theatre may seem to have lost the place it once held in the minds of people, but the industry has been steadily growing and evolving all these years.
Thus, to promote the performing arts in India, the government has taken several initiatives to revive the old culture of performing arts, thereby giving a significant push to the industry.
Increasing Demand at an International Level
India is making its mark on the global map in various fields. The country is getting worldwide recognition for our art & culture. The international appeal of Bollywood dancing is significantly rising in countries like the US, Canada and Europe, hence increasing the demand of the performing arts’ franchise globally. Much of this is due to the growing Indian diaspora abroad, along with a substantial population of non-Indians who are fascinated by the massive production sets, or lavish costumes. Therefore, owing to the increasing demand for Indian culture at an international level, investing in a performing arts’ franchise could provide success opportunity at the global level.