Rising Global Interest in India's Cultural Heritage August, 2024 Confidential and proprietary © 1Lattice OF CONTENTS table Foreword Executive summary Cultural industry overview Rising influence of Indian culture What is culture? Taking Indian culture global Expansion opportunities for culture-based offering platforms Global market potential of culture-based online services platform Key growth drivers Technology as an enabler Case study – Idagio Untapped potential for monetization by artists Foreword Praneet Singhal Ashish Dhir Director, Technology & Internet Senior Director, Consumer & Retail In the vibrant mosaic of global digital content, cultural heritage from around the world is emerging as a captivating focal point, drawing audiences with its rich and diverse traditions. From the intricate tapestries of Middle Eastern folklore to the vibrant festivals of Latin America, global culture offers a vast array of engaging stories and experiences. For example, Indian cultural heritage stands out with its rich and diverse traditions. The increasing interconnectedness of digital media, the influential Indian diaspora, and India's magnetic appeal as a tourist destination are fuelling this trend, revealing a significant gap in the current content platform market. Imagine a platform where cultural enthusiasts can effortlessly access curated Indian programs, and artists can showcase their work to a global audience. This largely untapped market presents a golden opportunity for innovative players to meet the growing demand for specialized cultural content and educational resources. This report delves into the rising global interest in Indian cultural heritage and the emerging opportunities within the culture-based online services market that have arisen as a result. We are highly optimistic about the prospects of this industry. If this report resonates with you, we invite you to reach out to us for further discussion and collaboration. Executive summary Industry overview Rising global and Culture-based platform domestic interest in has potential to Indian culture highlights incorporate live streaming, Global market potential market gap for event collaborations, for culture-based online culture-based platforms instrument sales, and services , is estimated at virtual tours US$ 44B in 2023, with a projected CAGR of 9% from 2023 to 2028 © 1Lattice Product in Spotlight: 1nsights Powered by 1nsights, our report provides a comprehensive perspective on the current global market scenario, encompassing the potential of culture-based online services and the growing influence of Indian culture through the diaspora and cultural enthusiasts. The study offers a deep dive into the expansion opportunities for these platforms and presents technology as an enabler. 1nsights, our cutting-edge intelligence product that drives data-driven decisions offers unparalleled access to comprehensive data, analysis, and forecasts that will guide your strategy in the culture-based services industry. Discover how 1nsights can enable better decisions for your business and help you gain a significant advantage in navigating the complex and ever-changing market landscape. Culture entails music, theatre, dance, and cuisine among others WHAT IS CULTURE? Music Theatre Art Dance forms (Handicrafts, pottery, paintings, sculpture) Cuisine Festivals Languages Fashion Traditions Heritage sites Customs / Beliefs Manners & Values Practices Literature Mythology Source(s): Secondary research, 1Lattice analysis © 1Lattice Indian culture goes global through diaspora and enthusiasts Indian Indian diaspora is Indians migrate world’s largest diaspora overseas every year diaspora 32.3M 2M Indian culture International visitors CAGR CY23-27 arrived in India in CY23 9.2M 5% enthusiasts Indian-based India’s performing CAGR CY23-27 arts market in CY23 US$ 4.3B 13% art learners 90% >300M US$ 3.3B >200M of international people practice total exports of local artisans in travelers visit India Yoga across the handicrafts from India , India, making primarily to explore world; offered as one of the largest craft sector the India’s rich cultural differentiator at handicraft-exporting second largest tapestry fitness studios countries employer Source(s): Ministry of External Affairs, Secondary research, 1Lattice analysis © 1Lattice 08 Taking Indian culture global (1/3) Number of international travelers visiting Indian heritage sites and celebrating Indian festivals has been on the rise Majority of international visitors attracted to Indian historical and archaeological sites Indian festivals, powerful ambassadors of India’s heritage, drawing international visitors Indians settled abroad celebrating Indian festivals, reflecting their cultural roots Source(s): 1Lattice analysis © 1Lattice 09 Taking Indian culture global (2/3) th Indian food ranked as the 4 most popular cuisine in the world and is equally enjoyed by non-Indians th Indian cuisine, 4 most popular cuisine in the world Number of Indian restaurants around the globe is increasing Indian restaurants are significantly getting recognition and rewards worldwide Source(s): 1Lattice analysis © 1Lattice 10 Taking Indian culture global (3/3) Rising interest and participation in Indian classical dance and music forms Indian associations being created across the globe to promote Indian culture Increasing interest in learning Indian instruments , dance forms and traditions among Non-indians Indian performing artists winning international awards Source(s): 1Lattice analysis © 1Lattice Culture-based offering platform can expand to include live streaming, event collaborations, instrument sales, and virtual or guided tours as it matures Incubation Acceleration Stability Live streaming of culture events, performances, etc. Collaboration with businesses to organize live cultural events Virtual or guided tours Live & recorded of cultural workshops landmarks, etc. teaching cultural art forms Cultural content Virtual art platform exhibitions offering exclusive & AR/VR and premium experiences content connecting artists with Sell instruments fans and merchandise like, books, Rental cultural outfits, service for limited edition instruments, prints, etc. equipment and Online merchandise podcasts, audio books and curated playlists for listeners Product maturity Source(s): 1Lattice analysis © 1Lattice Global market potential of culture-based online services platform estimated to be US$ 44B in 2023, growing with a CAGR of 9% from 2023-28 2028P Global Online Culture Market Potential: ~US$ 67B 2023 Global Online Culture Market Potential: Potential to ~US$ 44B incorporate additional services, such as podcasts, CAGR local events, 9% and merchandise sales, in future assessments Global Indian Online Global Indian Online Culture Market Potential Culture Market Potential in in 2023: ~US$ 1.1B 2028P: ~US$ 2.0B • The evaluation of the global online culture market potential encompasses cultural content and learning platforms, however, there is potential to incorporate additional elements, such as podcasts, local events, and merchandise sales, in future assessments • The global cultural market is valued at US$ 44B in 2023 and is projected to reach US$ 67B by 2028, growing with a CAGR of 9% from 2023-28 • The market potential for Indian culture-based online services platform is US$ 1.1B in 2023 , driven by diaspora demand, digital adoption, and cultural affinity Source(s): 1Lattice analysis © 1Lattice India’s growing diaspora and vernacular content demand are the drivers for culture-based online services platform Key Growth Drivers Rising global audience • Indian diaspora offers a significant market for culture-based online services platform to reach global audience Rising vernacular influence • Growing vernacular content leading to an opportunity for cultural focused content Rising cultural importance • Growing awareness and desire to connect to one’s roots among India’s diaspora Inquisitiveness of global audience • India's rich heritage fuels diverse content, captivating global audiences and attracting a wide range of learners Increased accessibility • Affordable data plans and easy accessibility widen audience reach for learning and entertainment Staying connected with family’s origin culture • Rising need for the younger generations to stay in touch with their mother culture and learn mother tongue Source(s): 1Lattice analysis © 1Lattice Indian music and dance forms garnering interest worldwide Indian classical music Massachusetts, USA • Indian Raga, bringing Indian classical music & dance to the 21st century • Collaborated with 3K artists to produce 400 videos viewed by 10M people across 65 cities • 590K+ subscribers on YouTube channel Indian classical dance Georgia, USA • Kruti Dance Academy acclaimed for its Bharatanatyam and Bollywood choreography • Part of Top 25 out of 75K+ acts on America’s Got Talent • 48K+ subscribers on YouTube channel Indian festivals Abu Dhabi, UAE • Indian Embassy organizing a 3-day art festival to mark India’s Independence Day • Over 60 artists, mostly from lesser-known names, got a platform to showcase their talents • Commenced by musical tribute to mother land Source(s): Secondary research, 1Lattice analysis © 1Lattice High willingness to pay for learning and to take part in Indian performing arts and workshops abroad Indian music and dance • Indian classical musicians charging US$ 20-50 per hour for classical music classes • Indian choreographers touring in countries like UAE & USA and charging US$ 30-40 for 1-day workshop Indian cultural programs • Organizations and committees across the globe like The Aradhana Committee hosting events to bring arts forms to Indian diaspora • Willing to pay >US$ 25 per person for each program Indian streaming platforms • Zee5 Global: 1M monthly active users in USA alone with subscription fee of US$ 12.99 monthly for 4K • SonyLIV: announced their strategic expansion in select countries in Africa and the Caribbean region Source(s): Secondary research, 1Lattice analysis © 1Lattice Technology enablement can help developing Indian cultural white space Technology as an enabler Gap areas Solution Inefficient production AI-powered tools to processes leading to delayed streamline production and output reduce inefficiency Lack of official digital identity Official identity for artists & for traditional artists and teachers via blockchain teachers technology Absence of a curated Platform focused exclusive on platform for Indian artforms cultural genre content Optimize workflows, Higher production costs for automate tasks, and focused content improve recommendations Target audience through Inability to reach the AI-driven recommendation intended audience algorithms Source(s): Secondary research, 1Lattice analysis © 1Lattice 17 Case study (1/2) Idagio, streaming service for classical music, points to the potential for a global cultural platform that can offer culture-based services • Founded byTill Janczukowicz at Salzburg Festival in Berlin 2014 • Raised an undisclosed 2015 amount in seed funding • 25K registered users 2016 • 72 countries served • Raised US$ 9.5M as part of Series A funding 2017 • Thomas Hampson’s own release on Idagio • Raised US$ 11.8M as part of Series A funding 2018 • Launched in North America • Launched free version worldwide 2019 • Named to TIME Best Inventions 2019 list • Launched in Japan • Launched Global Concert 2020 Hall • Partnership with GBH on 2021 a new concert series • Collaboration with The Cleveland Orchestra 2022 • Launched Global Concert Hall streams • Exclusive partnership with Samsung Austria 2024 • Collaboration with the Royal College of Music Source(s): Company website, Tracxn, 1Lattice analysis © 1Lattice 18 Case study (2/2) Idagio offers 2M+ licensed tracks and has 1.6M app downloads in 190+ countries, underscoring its global cultural impact Key figures Subscription plans 190+ countries 4 languages Free - served offered 2M+ licensed 6 investors Premium+ US$ 10.86 / month tracks Premium+ 1.6M+ app US$ 21.2M US$ 18.12 / month concerts downloads total funding Key offerings WATCH CONCERTS LISTEN TO TRACKS LEARN FROM ARTISTS PARTNER AS AN ARTIST Source(s): Company website, Tracxn, 1Lattice analysis © 1Lattice Indian based artists are unable to reach global audience due to improper infrastructure & financial constraints Headwinds Tailwinds Improper infrastructure Collaboration with and resources platform Venue and resource Virtual platforms empower availability impact Indian Indian artists to produce performing arts globally world-class performances Financial constraints Financial accessibility Limited funding hinders Indian artists' Platform funded shows enable Indian global market access artists to overcome financial barriers Lack of platform Dedicated virtual platform Limited platforms hinder artists from Online platforms offer Indian artists global showcasing work internationally exposure previously inaccessible Identifying and reaching Targeted audience the target audience engagement Without market research and Platform analytical tools aid distribution channels, artists Indian artists in global struggle to connect with their audience targeting target audience These headwinds are not unique just to Indian artists; they also significantly impact global artists Source(s): Secondary research, 1Lattice analysis © 1Lattice Artists are unable to monetize their talent, and hence are switching to other sources of revenue Current sources of revenue for artists Talent related Non-talent related Own venture Salaried Selling records Performer Vegetable Delivery vendor boy Grants from government / Daily wage Grocers Teacher private organization laborer Key challenges in monetizing their talent Limited accessibility Artists have limited access to platforms, restricting their to platforms exposure Challenges in creating Artists struggle to create high-quality content due to high quality content financial constraints Irregular income streams cause financial instability, making Financial instability it hard for artists to rely solely on their art Limited marketing Limited marketing capabilities hinder artists from reaching capabilities broader audiences and attracting sponsors Difficulty adapting to Artists face challenges adapting to digital advancements, digital advancements widening the digital divide Lack of support from Lack of support from cultural institutions makes it harder cultural institutions for artists to monetize their talent Source(s): Secondary research, 1Lattice analysis © 1Lattice 21 (1/3) Indian artists, due to lack of recognition and financial instability, are struggling to keep their art and families alive Background: Qawwali artiste belonging to the famed Dilli Gharana of the Hindustani music Current scenario: Struggling to pay rent and is in debt “My rent is Rs 6,000 a month. For nearly two years, I have been unable to pay it. I owe my milkman some 12,000 rupees.” Ustad Abdul Darshanam Hameed Sabri Mogulaiah Background: Kinnera player who was awarded the Padma Shri Current scenario: Working as a construction worker “I bought a piece of land on the city’s outskirts. I started building a house but had to stop midway as I ran out of funds.” Source(s): Secondary research, 1Lattice analysis © 1Lattice 22 (2/3) Background: Delhi-based music director Current scenario: Relying on his son and daughter “I know musicians who have set up vegetable thelas. Many have left the music scene altogether and gone back to their hometowns or villages.” Indu Prakash Trivedi Rupendra Background: Vocalist with a Shridhar musical lineage through his father Pandit Babu Ram Trivedi Current scenario: Depending on staples supplied by good samaritans “Additionally, due to lockdown all my students went away, and my income came down to almost zero.” Source(s): Secondary research, 1Lattice analysis © 1Lattice 23 (3/3) rd Background: 3 generation street magician Current scenario: Living with 5 family members in a one-room house “The rich culture of street art has almost disappeared across the country. As stand-ups are getting more attention, I try to write jokes to be performed with my Sindhe magic show.” Sriramulu Background: Well-known puppet artist Current scenario: Struggling to Ishamudin keep his family from starving Khan “We can’t even go to other villages to sell the puppets or have shows and exhibitions. How do we survive when we’re not earning anything?” Source(s): Secondary research, 1Lattice analysis © 1Lattice 4 200+ Offices in India Annual engagements 130+ 50+ Team members Inhouse research team 1,000+ 2M+ On-ground staff B2C Panel 500K+ 300K+ B2B Panel Experts & professionals 20% 100% Cost savings Controlled output & timeline What We Do Making organizations effective through data-driven insights, Vision innovative products solutions and proven expertise to enable better decisions To provide technology led solutions that unlock that power of trustable data, actionable research, and deep network Mission of experts Technology Data + People/ Accumulated Professionals/ knowledge Service providers Research We are here for you Let us know how we can meet your business requirement? 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