When young Indian entrepreneur Arjun Jain wrote two very big checks to secure the rights to stage Justin Bieber’s sole concert in India during the Canadian star’s Purpose world tour, it was the biggest gamble of his career. Jain’s White Fox India is spending $4 million to stage the May 10 concert at Mumbai’s DY Patil Stadium, including Bieber’s hefty fee negotiated by his agents at CAA. “We’ve never had a show of this level in India and where the artist has been paid such a big fee. It was a gamble because no one in India knew what the response would be. Jain’s company will get 50% of the merchandising revenues from locally produced items including T-shirts, hoodies, caps and buttons.

Source: Forbes April 25, 2017 03:01 UTC