As many as 1.3 crore people logged in to BookMyShow’s website and app to buy tickets for British rock band Coldplay's upcoming 2025 concerts in Mumbai while just 1.5 lakh tickets were up for sale.
All the tickets sold out within just 30 minutes. With so many left out, reseller sites began offering tickets at massively inflated prices. BookMyShow priced tickets between Rs 2,000 and Rs 35,000, but soon after, resale platforms like Viagogo were listing them for as much as Rs 10 lakh.
A Rs 12,500 ticket was being sold for over Rs 3.36 lakh on these platforms, with standing tickets, originally priced at Rs 6,450, being resold for up to Rs 50,000. Also Read: Rs 1.
42 lakh for one night stay! Navi Mumbai hotel prices get hot when Coldplay is around Why are Indians shelling out so much money for a show by a band which is not even one of the most popular in the world today? While many attribute this phenomenon to the extreme FOMO (fear of missing out) sentiment in the age of social media when people like to flaunt things, it is also an indicator of India's economic situation. The frenzy for Coldplay tickets shows India's strengthening consumption story even as disposable incomes rise, the number of rich grows at a fast pace, the size of the middle class increases and a trend of premium consumption sweeps across sectors. Not just the class that clamours for Coldplay tickets, even those at the bottom of the pyramid are showing different consumption trends.
Premiumisation of consumption.
