The Indian performing arts market is worth $3.8 billion with an addressable market size of 26 million in the 8-25 age bracket, according to a new study. The age bracket figure is significant as it represents 7% penetration in a population group that has significant room for growth. By comparison, the penetration of learning to dance in the United States stands at 7.4%. The market is also expected to reach $7 billion by 2027. The study, conducted by Kafqa Academy, an online performing arts academy, aimed to shed light on the vast, unorganized performing arts market in India. The researchers collected data from 5,000 respondents. It offers a comprehensive picture of the money and time spent by parents and learners across all age groups and income brackets.
Kafqa Academy found that one in three Indian students between the ages of 6 and 14 learned the performing arts, regardless of their economic background. The researchers defined low, affordable, private, and elite schools as those with average annual fees of $1,000, $533, $267, and $67 or more, respectively.
However, the numbers start to vary when it comes to learning the performing arts such as music, dance and speaking outside of school. Of students learning the performing arts, 22% of elite schools and 21% of private schools pay to learn the performing arts outside of school (See Kafqa Academy chart). The corresponding figures for low-income and affordable schools are 2% and 14% respectively.
The data also showed that students in elite schools invested an average of $190 a year to learn the performing arts outside of school. The corresponding figures for private, affordable, and low-income schools were set at $134, $98, and $70.
Shariq Plasticwala, CEO of Kafqa Academy, said, “Social media platforms, especially short-form video platforms, have enabled artists to create content and inspire large audiences to pursue artistic and content creation. around her.
“Our mission is to make high-quality performing arts learning accessible to learners of all ages by leveraging technology.”
The survey also revealed that India has a market size of $2 billion in the age group of 6 to 14 years. It is expected to reach $3.5 billion by 2027. This age group has more than 15 million addressable paying users in this range.
The researchers also collected data in the age group of 16 to 25 based on their household income bracket, ranging from less than Rs 2.5 lakh to more than Rs 15 lakh.
Learners in the age bracket were categorized as low-income households ( Rs 15 lakh). The researchers found that the Affluent category spent an average of $204 a year learning the performing arts, while the Aspirants spent $139. The figures for next billion and low-income households were $107 and $64, respectively.
The size of the addressable market in this age group is 11 million users. The data revealed that the current market size of this group is $1.8 billion and is expected to grow to $3.5 billion in 2027.
However, India’s numbers are grim compared to developed countries. In New Jersey (USA) alone, one million students are enrolled in art classes. At least 96% of elementary school students, 85% of middle school students and 50% of high school students are engaged in some artistic activity, according to data released by the New Jersey Department of Education. Rising Indian household disposable income and interest in performing arts may lead to similar figures in India.
The global performing arts market is estimated at over $30 billion.