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BookMyShow Business Model & Growth Strategy
growthxclub
·
1y ago
Medial
Bookmyshow, owned and operated by Bigtree Entertainment Pvt Ltd is an online ticketing platform for movies, live events, workshops and much more. The firm is present in over 650+ cities and towns and provides entertainment experiences to 30 million customers.
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23
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BookMyShow FY24 revenue jumps 43% on live events growth; online ticketing drives profitability
Economic Times
·
8m ago
Medial
BookMyShow, an online entertainment ticketing platform, experienced a 43% YoY increase in scale, driven by significant growth in its live events segment. The company achieved profitability in FY23 and saw its net profit grow further in FY24 due to strong revenue growth. Online ticketing remains the biggest revenue and profit contributor, while the live events segment recorded a loss. BookMyShow faces competition from Zomato, which acquired Paytm's events and ticketing business, and is organizing large-scale music concerts. Operating cash flows decreased due to increased operational expenses, and total expenditure rose by 40%. BookMyShow leads India's entertainment ticketing market with a 75% market share. Uncertainty surrounds a planned investment by PE firm KKR following Zomato's acquisition.
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Zomato behind BookMyShow in ticketing business, hope Swiggy doesn't buy it: Deepinder
Inshorts
·
10m ago
Medial
Zomato CEO Deepinder Goyal said the startup is behind BookMyShow in the ticketing business and will, at some point, "gun to be number one". Speaking to Moneycontrol, Goyal said he hopes that "Swiggy doesn't buy BookMyShow". Zomato and Swiggy are rivals in both food delivery and quick e-commerce spaces, with Zomato gaining a lead over Swiggy in recent years.
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Zomato Onboards Ex-BookMyShow Executive Kunal Khambhati
Inc42
·
10m ago
Medial
- Khambhati has joined the company, but his designation for the new role is unclear - Khambati was responsible for live events and intellectual property development at BookMyShow - Zomato has been teasing the launch of a new app called 'District' for the going-out business - No further details were provided regarding Khambhati's responsibilities or position at Zomato - Khambhati's move to Zomato could suggest an expansion of the company's focus on live events and entertainment - Zomato's new app 'District' could potentially compete with BookMyShow in the going-out business industry.
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Indigo's Foreign Flex
Business Today
·
4m ago
Medial
In the latest Business Today Magazine issue, a high-stakes rivalry unfolds between IndiGo's evolving hybrid model and Air India's full-service approach. Under CEO Pieter Elbers, IndiGo, once a domestic low-cost carrier, is expanding internationally, challenging Air India's long-haul market dominance. By connecting smaller Indian cities and exploring international routes, IndiGo aims to adapt its low-cost model for premium travel, highlighting its ambitious global strategy amidst India's booming aviation growth.
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Not just a cold play: How Zomato can make District a blockbuster
Livemint
·
10m ago
Medial
Zomato, the popular food delivery platform, is entering the live events industry with its latest acquisitions of Paytm subsidiaries Wasteland Entertainment and Orbgen Technologies. The move is part of Zomato's strategy to expand its District app, which combines dining out with live events. However, the live events business can be challenging, with high upfront investments and a long time to break even. Zomato will need to build a diverse portfolio of events to generate year-round revenue, while also facing infrastructure constraints and competition from established players like BookMyShow.
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BookMyShow, Zomato And India’s Concert Mania
Inc42
·
11m ago
Medial
Zomato and BookMyShow recently faced challenges with ticket scalping for popular events. Zomato's acquisition of Paytm Insider and its ticketing business may have provided insights into the value of this sector. The incidents involving Diljit Dosanjh's tour and Coldplay's concert exposed the issue of scalpers using bots to buy tickets and sell them at significantly higher prices. These incidents highlight the need for platforms like Zomato and BookMyShow to address ticket scalping and improve the user experience for live events.
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Accel, Elevation poised for profits on BookMyShow bet
The Arc Web
·
1y ago
Medial
Private equity firms and growth-tech funds are in talks to acquire a substantial stake in BookMyShow, an app for movie and event tickets. Early investors like Accel and Elevation, who collectively hold 25%, are expected to partially sell their shares. BookMyShow aims for a valuation of over $1 billion, which would represent a 50% premium compared to its last valuation of $675 million. Despite suffering during the pandemic, the company has seen a recovery in revenues and profitability. While private equity major Carlyle and Singapore’s Mars Growth Capital have shown interest, other potential buyers are willing to pay more for a stake.
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ProgCap’s Pallavi Shrivastava on growth path, fundraising plans and more
VCCircle
·
6m ago
Medial
ProgCap, backed by investors like Tiger Global and Google, has shifted from a platform-driven model to a co-lending approach. This transition began following the acquisition of Mumbai-based non-bank lender Hytone three years ago. The co-lending business now operates under the subsidiary Progfin. Co-founded by Pallavi Shrivastava, ProgCap continues to evolve its strategy to align with its growth and fundraising objectives.
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Zomato's big Paytm play puts a spanner in KKR's BMS plans
Economic Times
·
12m ago
Medial
KKR's planned investment in BookMyShow (BMS), India's largest online ticket-booking platform, is in doubt following Zomato's acquisition of Paytm's entertainment business. KKR is reportedly renegotiating with BMS over the deal size and valuation. Zomato's entry into the entertainment and ticketing market is expected to impact BookMyShow's revenue as it enjoys a near-monopoly with a 75% market share. BookMyShow, which posted around INR 1,000 crore in revenue in fiscal year 2023, is profitable and will use its influence with suppliers and exclusive contracts to protect its market share.
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BookMyShow profit nears Rs 110 Cr in FY24, event biz bleeds
Entrackr
·
8m ago
Medial
Online ticketing platform BookMyShow has experienced a remarkable turnaround over the past two years (FY23 and FY24), with its revenue soaring more than 5X and achieving profitability. Its revenue spiked to nearly Rs 1,400 crore in FY24, from only Rs 277 crore in FY22. BookMyShow reported a 43.2% year-on-year growth to Rs 1,396.86 crore in revenue from operations during the fiscal year ending March 2024 as compared to Rs 975.51 crore in FY23, its consolidated financial statement with the Registrar of Companies shows. BookMyShow, an online ticketing platform for movies and events, operates with 17 subsidiaries and two joint ventures. Here's a breakdown of its revenue growth across different streams. BookMyShow generates revenue primarily through online ticket bookings, turnkey ticketing solutions for concerts and events, and software sales. It also earns from advertisement space and from subscription contracts. Additional income sources include food and beverage sales, maintenance contracts, and on-ground services. The company collected 57.4% of its revenue from online ticketing (ticket bookings and turnkey solutions) which grew 23.8% year-on-year to Rs 801.57 crore in FY24. Around 32% of the revenue came from live events, worth Rs 454.72 crore which surged 91.5% during the year. The remaining sum of Rs 140.57 crore was collected via advertisement, marketing, sale of food & beverages, gift vouchers, and software, et al. The company also earned Rs 33.28 crore from interest and gains on financial assets, taking the overall revenue to Rs 1,430.14 crore in FY24. Out of the convenience fee, a certain portion of the revenue is shared with the cinema owners. BookMyShow paid a revenue share worth Rs 323.03 crore during FY24, accounting for 43.6% of the online ticket booking revenue. The firm spent Rs 233.49 crore on production which spiked 95% YoY in FY24, while the fees paid to artists soared 103.3% to Rs 211.32 crore in the same period. Employee benefit expenses went up 24% to Rs 170.72 crore during the year. Further, advertisement & promotions, and payment gateway charges stood at Rs 78.97 crore and Rs 49.57 crore, respectively. The overall expenditure of BookMyShow inclined 40.3% to Rs 1,319.88 crore in FY24 from Rs 940.86 crore during the previous fiscal year. Segment-wise, BookMyShow made profits of Rs 258.65 crore via online ticketing and Rs 84.13 crore through advertisement, marketing, sale of food & beverages, gift vouchers, and software et al. However, the live events vertical bled with a loss of Rs 137.99 crore during FY24. In the end, BookMyShow’s profits grew 27.6% to Rs 108.63 crore during FY24, against Rs 85.11 crore made in the last fiscal year (FY23). On the back of heavy cash burn on opex (operational expenses), its operating cashflows slipped 85.3% to Rs 33.54 crore during the period. Moreover, the outstanding losses of the firm stood at Rs 751.42 crore. The EBITDA margin and ROCE of the company registered at 11.07% and 15.25%, respectively. On a unit level, BookMyShow spent Re 0.94 to earn a rupee of operating revenue in the last fiscal year. At the end of FY24, the company had Rs 306.72 crore in cash and bank balances while its overall current assets were worth Rs 1,209.84 crore with a current ratio of 138%. As per TheKredible, BookMyShow has raised Rs 1,490 crore to date from the likes of TPG Growth, Elevation Capital, and Accel. Network 18 is the major stakeholder in the company having control of around 39% stake. Its valuation as per its Series D funding stood at nearly Rs 5,700 crore. Foodtech giant Zomato, which acquired Paytm’s movies and ticketing business, competes with BookMyShow.
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