BookMyShow – How It Facilitates Hassle-Free Ticket Booking
Authors: Shubham Kumar, Manisha Mishra
Date: Dec 14, 2023
Read Time: 14 minutes
Company Profiles
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Are you a movie buff? If you answered no, you might be bluffing. Movies offer countless reasons to watch them: unwinding after a long day, escaping reality for a few hours, enjoying a good laugh, or spending time with friends. Whether it’s action, rom-coms, or drama, there’s something for everyone. And one platform that brings all moviegoers together is BookMyShow.
BookMyShow simplifies ticket booking for movies, parties, events, and more. It has become the go-to platform for booking tickets with ease. However, its journey to success was far from overnight.
In this article, let’s delve into the world of BookMyShow—its founders, business and revenue model, funding, growth, and more.
BookMyShow – Company Highlights
Startup Name: BookMyShow
Headquarters: Mumbai, Maharashtra, India
Sector: Entertainment Providers
Founders: Ashish Hemrajani, Parikshit Dar, Rajesh Balpande
Founded: 1999
Website: bookmyshow.com
About BookMyShow
BookMyShow is India’s largest entertainment ticketing platform. Founded in 1999 as a software reseller for movie theaters, it has evolved into a comprehensive platform for cloud-based ticket booking of events, movies, sports, and plays. Initially known as Bigtree Entertainment Pvt. Ltd., BookMyShow now operates in five countries, serving over 30 million customers.
Industry Overview
According to RedSeer, India’s online ticketing market recorded a quarterly revenue of $28 million in 2018. Movies contribute to 50% of the industry’s revenue, followed by events. The online ticketing industry generated nearly $330 million in 2017. Statista projects significant growth in the entertainment industry, with total revenue expected to reach $31.23 billion by 2022 and $53.13 billion by 2027.
Founders and Team
Ashish Hemrajani: An MBA Marketing graduate from Sydenham, Ashish worked at J. Walter Thompson before founding BookMyShow. Under his leadership, the company survived the Dot Com bust and pivoted to offer back-end ticketing services and the Vista ticketing software. He is the CEO of BookMyShow.
Rajesh Balpande: Formerly an investment banker with The Chatterjee Group, Rajesh co-founded BookMyShow and remains a key figure in the company.
Parikshit Dar: With an MBA from Sydenham College of Commerce and Economics, Parikshit is the Director of Bigtree Entertainment and co-founder of BookMyShow. He played a crucial role in designing and developing the BookMyShow website and its backend technology.
The Startup Story
The inspiration for BookMyShow came to Ashish while backpacking in South Africa. After hearing a radio ad for rugby tickets, he envisioned an online ticketing platform. Ashish left his job and, with his friends Parikshit Dar and Rajesh Balpande, founded Bigtree Entertainment Pvt. Ltd., the parent company of BookMyShow. Despite initial challenges, including parental skepticism and financial hurdles, they persevered to establish BookMyShow.
Name, Tagline, and Logo
Originally branded as “Go For Ticketing,” the company was renamed “India Ticketing” in 2002 before adopting “BookMyShow.” The name was selected through an internal contest, rewarding the winner with an iPod touch.
Services
BookMyShow initially focused on movie tickets but expanded to include plays, sports, fairs, and more. Users can book tickets via the website or mobile app, available for Windows, Android, iOS, and Blackberry. The company launched a progressive web app in 2017, offering show timings, reviews, trailers, and 24/7 customer service.
Business Model
BookMyShow’s business model revolves around its exclusive access to Vista ERP APIs, enabling real-time movie ticket availability. The platform offers related services like parking, food, and retail, supporting offline ticketing through kiosks. This strategy diversifies revenue streams and enhances customer accessibility.
Revenue Model
Ticketing Revenue: This primary revenue source includes commissions on ticket purchases and internet handling fees. BookMyShow charges convenience fees and earns commissions on non-movie events.
Non-Ticketing Revenue: The platform generates additional revenue by allowing businesses to promote their content, leveraging BookMyShow’s high page views.
Challenges Faced
BookMyShow’s journey was fraught with challenges, from the Dot Com bubble to the financial crisis of 2007. Initially, online ticket sales were rare, and the company faced issues like limited internet access and e-ticketing software. BookMyShow adapted by selling automated ticketing software to multiplexes and running call centers, gradually recovering and achieving profitability.
Funding and Investors
BookMyShow raised over $224.5 million in six funding rounds:
| Date | Stage | Amount | Investors |
|---|---|---|---|
| Jan 1, 2019 | Venture Round | – | Capital18 |
| Jul 20, 2018 | Series D | $100 million | TPG Growth |
| Jul 5, 2016 | Series C | $81.5 million | Stripes |
| Jun 18, 2014 | Series B | $25 million | Elevation Capital |
| Aug 23, 2012 | Series A | $18 million | Accel |
| Jan 1, 2007 | Seed Round | – | Network 18 |
Investments
BookMyShow has invested in three companies:
| Date | Stage | Amount | Company Name |
|---|---|---|---|
| Jul 7, 2022 | Corporate Round | Rs 10 crore | Popclub |
| Apr 16, 2019 | Corporate Round | – | AtomX |
| Feb 14, 2017 | Private Equity Round | – | Townscript |
Mergers and Acquisitions
BookMyShow has acquired seven companies:
| Date | Company | Details | Price |
|---|---|---|---|
| Apr 20, 2022 | TribeVibe Entertainment | Event management software | – |
| Aug 1, 2017 | nFusion | Audio entertainment | – |
| Jul 4, 2017 | burrp! | Food tech business | $10,300 |
| Feb 14, 2017 | Townscript | DIY event ticketing platform | – |
| Jan 24, 2017 | MastiTickets | Ticketing firm | – |
| Mar 10, 2016 | Fantain | Fan relationship management | – |
| Feb 11, 2015 | Eventifier | Social media analytics | $2 million |
| Mar 2013 | Ticket Green | Online ticketing | – |
Growth
BookMyShow operates in over 650 towns and cities and partners with 5,000+ screens in India. It successfully expanded into Southeast Asia in 2016. Financial highlights include a leap from Rs 277 crore in operating revenue in FY22 to Rs 976 crore in FY23, turning a loss of Rs 92 crore into a profit of Rs 85 crore.
Awards and Achievements
- CNBC Young Turks Award: “The Hottest Company of the Year-2011-12” and “The Company to Watch Out For.”
- QuestCX Awards: “Best Omni-channel Customer Experience Brand.”
- Exclusive Ticketing Partner: Formula 1 race in India.
- Official Ticketing Partner: IPL teams like Mumbai Indians and Rajasthan Royals.
- Market Share: Held a 78% share in the online movie ticketing sector as of 2018.
Competitors
BookMyShow’s competitors include:
- Explara
- TicketGenie
- Kyazoonga
- IndianStage
- BookMyEvent
- MeraEvents
- Asklaila
- TicketCountes
Despite competition, BookMyShow maintains a significant market advantage.
Future Plans
BookMyShow aims to continue expanding its service offerings and geographical reach, further enhancing user experience and maintaining its market leadership.
Founder’s Advice
“A pessimist says the glass is half empty, an optimist says it is half full. An entrepreneur looks at the empty section and adds some scotch either to enjoy the journey or be too drunk to bother.” – Ashish Hemrajani, CEO, BookMyShow
BookMyShow has transformed the ticket booking landscape in India, providing a seamless and user-friendly platform for millions. Its journey from a small startup to a billion-dollar enterprise exemplifies resilience, innovation, and vision.