For many years the power centre of the Music business lay in the hands of Music moguls who owned the top Record labels. But then there has been a dynamic paradigm shift after the so called “Internet Boom” we see how power has changed hands from Record labels to Mobile companies to Streaming services and today to Event companies.
Living proof of this lies in the fact that in today’s current global scene, an Event company like Live Nation has outgrown and become larger than the world’s largest music company, which is what inspired us at Raga to Rock to ask Mr. Karan Singh, CEO, Sunburn & Mr. Manuj Agarwal, CEO, Percept Live, (the key persons in charge of ‘Sunburn’ one of the largest Music festivals in the world) to get an exclusive inside peek into what the future holds for their business.
Do you plan to be one of the biggest Event Companies in the world?
It’s a different ball game for event companies in India in comparison to the ones that exist globally. When you conceptualize an event in India the audience that we reach out to is mostly local in comparison to global event companies who reach out to a much wider audience and not necessarily from that market alone. Also acceptance and following for different genres of music is much higher in global markets whereas in India each genre has a very niche following and hence the marketing strategies differ to a large extent. Also Euro and Pound currencies versus the INR currency is almost 1/3rd in terms of valuation. Having said that our vision and effort has always been to be the leader in our domain and category.
Do you feel that Event Companies will soon be bigger than Music companies?
Yes, there are many ancillary revenue streams for an Event company as compared to any of the Record Labels. Event companies explore streams such as various IPS’s and concepts, Sponsorship, ticketing, F&B, Experiences and a lot more; whereas Music companies are restricted to record releases and movies. Some great examples of such event companies are Live Nation, SFX, and Percept Live, among others.
With ‘Sunburn’ being your biggest success, what other plans do they have?
Percept Live’s main Intellectual Property till date has been ‘Sunburn’ which is focused primarily on the EDM genre. Percept Live is an umbrella for live events. Apart from Sunburn, EPL, Bollyboom and FLY, Percept Live also has other IP's including Fight Night, Champions of the World, Red Carpet Pop Up Nights, and many more. We have successfully executed ‘Eat Play Love’ (EPL) ,a city food, fashion & Music festival recently. We will soon be launching the second season ‘Bollyboom’ in its new avatar and as the name suggests it will feature popular Bollywood and dance music artists. After a successful first year of FLY with ED Sheeran we plan to get FLY again in the month of March 2017 and will feature Arenas with renowned international talents. 2017 should see the announcement of many more exciting properties from Percept Live
Are you open to partnerships for new Music IPs?
Yes we are open for partnerships. We recently launched a new Food and Lifestyle IP called ‘Eat Play Love’ (EPL) under Percept Live which partnered with the Eat India Company. We’re open for new IPs and concepts.
- Noel Keymer