The events and entertainment industry has witnessed a transformation and an unprecedented upsurge over a while. The global events industry is expected to reach $1.552 trillion by 2028 and has been growing at a CAGR of 11.2 per cent from 2021 to 2028. Also, with increased spending on live experiences, the sector offers lucrative investment opportunities. Venture capital investments in event tech startups have swelled, reaching $2 billion in 2023. Additionally, companies in the events industry have reported an average annual revenue growth rate of 8 per cent over the past five years.
EEMA (Event and Entertainment Management Association) is the autonomous, non-profit body of registered companies, institutions and professionals that operate within India’s events and experiential marketing industry. It brings together leading event management, brand activation, sports management, MICE, wedding planners, experiential marketing, entertainment professionals, artist management companies and their international counterparts on a single, convenient platform. The industry has observed exponential growth in the past two decades with more than 1000 entities operating in various levels and segments that are spread across 100+ Indian cities.
Hosted by EEMA, EEMAGINE 2024, which was held from 9 to 11 August in Kolkata, highlighted the transformative potential of AI and celebrated the spirit of collaboration and creativity that drives the industry forward. The event attracted an impressive footfall of 1000 attendees, and concluded with the EEMAX Global Awards, recognising outstanding contributions in various categories, including corporate events, consumer experiences, exhibitions, social events, IPs, and more.
Talking to Everything Experiential in an exclusive dialogue, Samit Garg, President, EEMA and Managing Director & Co-founder, E-Factor Experiences outlined the transformation of EEMA across 16 years, EEMA’s efforts in driving economic growth in the industry and more.
Edited excerpts:
Over 16 years, how do you view the transformation of EEMA, along with the ever-evolving needs of the events, entertainment and experiential marketing industry in India?
Over the past 16 years, EEMA has undergone a remarkable transformation, mirroring the rapid evolution of the events, entertainment, and experiential marketing industry in India. When EEMA was founded, the industry was still in its formative years, characterised by traditional event formats and a relatively small-scale approach. Over time, the industry's growth has been exponential, driven by changing consumer expectations, technological advancements, and the rising importance of experiential marketing as a powerful tool for brand engagement.
EEMA's role in this transformation has been pivotal. From being a fledgling association, EEMA has grown into a robust, influential body representing a diverse range of stakeholders, including event planners, marketers, and service providers. The organisation has consistently adapted to the evolving needs of the industry by expanding its scope, advocating for policy changes, and setting benchmarks for quality and professionalism.
One of the most significant shifts we've witnessed is the industry's move from simple event execution to creating immersive, experience-driven engagements that resonate deeply with audiences. This has been fuelled by advancements in technology, such as virtual and augmented reality, data analytics, and AI, which have opened up new avenues for creativity and audience interaction.
EEMA has been at the forefront of these changes, providing a platform for knowledge sharing, innovation, and collaboration. The association has also played a crucial role in professionalising the industry, through initiatives like certifications, training programs, and industry events that foster learning and development.
With the focus on events, entertainment and experiential marketing seeing an upsurge globally and in India, how is EEMA looking at driving economic growth in this industry?
EEMA is deeply committed to driving economic growth within the events, entertainment, and experiential marketing industry in India, recognising its significant potential to contribute to the broader economy. Here’s how EEMA is playing a pivotal role in this endeavour:
1. Advocacy for Industry Recognition and Support:
EEMA actively engages with government bodies and industry stakeholders to advocate for the recognition of the events and experiential marketing sector as a key economic contributor. By pushing for supportive policies, tax incentives, and streamlined regulatory processes, EEMA aims to create a more conducive environment for businesses to thrive, ultimately leading to increased economic activity.
2. Facilitating Collaboration and Innovation:
EEMA fosters collaboration among its members and the broader industry by creating platforms for networking, knowledge sharing, and joint ventures. By bringing together diverse players—from event planners to technology providers—EEMA encourages the development of innovative solutions that can drive efficiency and create new revenue streams.
3. Capacity Building and Skill Development:
Recognising the need for a skilled workforce to sustain industry growth, EEMA invests in capacity building through training programs, workshops, and certifications. By enhancing the skill set of professionals in the industry, EEMA ensures that businesses can deliver high-quality services, which in turn attracts more investment and drives economic growth.
4. Promoting Global Competitiveness:
EEMA is focused on making the Indian events and experiential marketing industry globally competitive. By benchmarking against international standards, encouraging the adoption of best practices, and facilitating global partnerships, EEMA helps Indian businesses expand their reach beyond domestic markets, thereby contributing to economic growth through exports and international collaborations.
5. Boosting Tourism through Large-scale Events:
EEMA plays a key role in promoting India as a destination through its member companies for large-scale events, conferences, and festivals, which not only boosts the local economy but also positions India as a global hub for experiential marketing. By attracting international events and encouraging domestic ones, EEMA helps drive tourism, hospitality, and related industries.
6. Creating Awareness and Education:
EEMA is committed to raising awareness about the economic impact of the events and experiential marketing industry. Through research, publications, and industry reports, EEMA educates policymakers, businesses, and the general public about the value this sector adds to the economy, ensuring it receives the attention and investment it deserves.
With live events and experiences witnessing an uptick, and event tech start-ups also drawing huge investments, how are the burgeoning investment opportunities shaping this industry?
The surge in live events and experiences, alongside significant investments in event tech start-ups, is fundamentally reshaping the events and experiential marketing industry. These investments are driving the adoption of cutting-edge technologies like AI, AR, and VR, which are enabling more immersive and personalised experiences. They also foster the development of scalable, data-driven solutions that enhance efficiency and ROI for event organisers. Additionally, the focus on sustainability and accessibility is expanding the industry’s reach and appeal, while new business models, such as SaaS and virtual monetisation, are creating fresh revenue streams. Overall, these investment opportunities are making the industry more innovative, resilient, and globally competitive. Though India is a little behind on this front, there is a lot of optimism around it.
How does EEMA support businesses in navigating challenges and capitalising on opportunities within the events, entertainment and experiential marketing sectors?
It does so by advocating for favourable policies and regulations that address industry-specific hurdles, such as licensing, taxation, and compliance, thereby creating a more business-friendly environment. EEMA also offers forums that equip professionals with the skills needed to adapt to industry changes and stay competitive. Through its vast network, EEMA fosters collaboration and knowledge sharing, enabling businesses to tap into emerging trends and innovative practices. Additionally, EEMA organises industry events, conferences, and forums that not only highlight opportunities in new markets and technologies but also provide platforms for businesses to showcase their capabilities and forge strategic partnerships. By combining advocacy, education, networking, and industry insights, EEMA empowers businesses and company owners to overcome obstacles and seize growth opportunities in a dynamic and evolving industry.
According to you, what are the similarities and differences in the way the Indian and global events, entertainment and experiential marketing industries are taking shape? What are the global innovations that you would like to see implemented by the Indian industry?
The Indian and global events, entertainment, and experiential marketing industries share several similarities, particularly in their growing emphasis on immersive experiences, technology integration, and data-driven strategies to engage audiences more effectively. Both markets are increasingly focused on personalisation, sustainability, and creating memorable, impactful events that resonate with attendees. However, there are key differences as well. The Indian industry often operates within a more diverse cultural context and faces unique logistical and regulatory challenges compared to its global counterparts. Budget constraints and differing consumer behaviour also influence how events are conceptualised and executed in India.
Globally, innovations such as advanced AI-driven analytics, immersive AR/VR experiences, and sophisticated hybrid event platforms are setting new standards. These technologies enable more precise targeting, real-time engagement, and seamless integration between physical and virtual environments. In contrast, while India has made significant strides, the adoption of these cutting-edge technologies is still in its early stages. I would like to see the Indian industry accelerate the adoption of these global innovations, particularly in areas like AI-driven personalisation, sustainable event practices, and the creation of fully immersive, tech-enhanced experiences. This definitely elevates the quality and impact of events in India.
Sustainability is becoming a hygiene component in the events, entertainment and experiential marketing industry in India. How should brands and agencies truly walk the talk when it comes to their efforts towards sustainability in this industry?
For brands and agencies in the events, entertainment, and experiential marketing industry to truly ‘walk the talk’ on sustainability, they must move beyond token gestures and integrate sustainable practices into every aspect of their operations. This begins with adopting a holistic approach to event planning that prioritises environmental impact from the outset, including reducing waste, minimising energy consumption, and opting for eco-friendly materials. Sourcing local and sustainable resources, such as using biodegradable or recyclable materials, and choosing venues that adhere to green standards are critical steps.
Additionally, brands and agencies should invest in educating their teams and stakeholders about the importance of sustainability and the practical ways it can be implemented. This includes offering training on sustainable practices, setting clear sustainability goals, and regularly measuring and reporting on their environmental impact to ensure accountability. Embracing technology to reduce the carbon footprint, such as virtual or hybrid event formats that limit travel and resource use, is another crucial strategy.
Moreover, sustainability efforts should extend to community engagement, where brands and agencies can support local initiatives, promote social responsibility, and collaborate with partners who share their commitment to sustainability. Transparent communication with clients and audiences about these efforts not only builds trust but also encourages industry-wide adoption of sustainable practices. By embedding sustainability into their core values and daily operations, brands and agencies can lead by example, driving meaningful change and ensuring that sustainability is not just a trend but a fundamental part of the industry’s future.
