Non-movies bookings, expansion in Tier-II & III cities to drive Bookmyshow's growth: Founder Ashish Hemrajani
Online entertainment ticketing platform Bookmyshow (BMS) has seen a major chunk of its revenues or its first wave of growth accruing from booking movie tickets online. The company now wants to replicate its successes in the non-movie booking space such as events and is building infrastructure for the same. In terms of events, the platform already manages bookings for 5IPL teams, FIFA and Sunburn. Going forward, BMS wants to see an ideal revenues spilt 50:50 between its events and movies business, its founder Ashish Hemrajani told Techcircle.in in a video interview. Events business is lucrative as ticket sizes are higher, he adds.
Having garnered enough market share in the top cities, the online entertainment ticketing platform now wants to get aggressive in Tier II & Tier III cities. Recently, venture capital firm Accel Partners invested Rs 100 crore ($18 million) to buy a large minority stake in Big Tree Entertainment Pvt Ltd, which runs movie and event ticketing website BookMyShow, through a mix of primary share issue and sale of shares by existing investor Network18 Media & Investments. Watch the interview to know more.