BookMyShow: Revolutionizing Entertainment Ticketing

BookMyShow, a pioneering platform that serves as the ultimate hub for movie enthusiasts, seamlessly brings a myriad of options for ticket reservations. Whether it’s movies, parties, events, or any conceivable entertainment avenue, BookMyShow stands as the comprehensive solution. The process of booking tickets has been simplified to an effortless experience, However, the journey to establishing this success story was far from an overnight accomplishment.

Company Highlights

BookMyShow – Corporate Overview

Established in 1999, BookMyShow has evolved into India’s premier entertainment ticketing platform, currently standing as the largest in the country. Initially founded as a software reseller for movie theaters, the company underwent a transformative journey, transitioning into a comprehensive platform for cloud-based ticket bookings across diverse entertainment categories, including events, movies, sports, and plays. The company’s inception was under the banner of its parent company, Bigtree Entertainment Pvt. Ltd.

With operations spanning five countries, BookMyShow boasts a customer base exceeding 30 million, a testament to its prominence in the industry. Over its sixteen-year trajectory, BookMyShow navigated through various challenges, experiencing both highs and lows. From its humble beginnings with an initial capital of Rs 25,000 to achieve a revenue of Rs 391 crore in FY2018, the company’s resilience was evident during significant economic downturns such as the ‘Dot Com’ crash and the global financial crisis of 2008. BookMyShow not only weathered these challenges but emerged victorious, embodying a narrative reminiscent of the David versus Goliath legend.

Industry Landscape

As per a comprehensive RedSeer report, the online ticketing market in India reported a quarterly revenue of $28 million in 2018. The report further highlights that 50% of the industry’s revenue is attributed to movies, with events playing a substantial role as the next major contributor. Sporting events, concerts, and live entertainment shows collectively contributed significantly to the industry’s total revenue, reaching approximately $330 million in 2017.

An in-depth analysis from Statista underscores the promising future of the entertainment industry. The sector is anticipated to experience substantial growth, with the total revenue projected to reach an impressive US$31.23 billion in 2022, signaling a robust annual growth rate of 11.44% (CAGR 2022–2027). The forecast indicates an unprecedented surge in the market, with an estimated value of US$53.13 billion by 2027. BookMyShow, as a key player in this dynamic landscape, remains poised to play a pivotal role in shaping the future of the entertainment ticketing industry.

BookMyShow – The Genesis of a Visionary Startup

In the genesis of BookMyShow lies the inspiring journey of Ashish, a visionary entrepreneur whose path was illuminated during his post-master’s backpacking expedition in South Africa. Drawing from his experience at J.W. Thompson, a pivotal moment materialized when a radio ad for rugby tickets captivated his attention while he sat beneath a tree. It was then that the spark of innovation was ignited within him.

Motivated by this newfound inspiration, Ashish made the bold decision to depart from his role, returning to India with unwavering determination to revolutionize the ticketing industry. Thus, Bigtree Entertainment Pvt. Ltd. was conceived with the explicit goal of transforming the landscape of ticketing services.

Embarking on this entrepreneurial venture at the tender age of 24, Ashish transformed his own bedroom into the operational nerve center of his internet-based enterprise, BookMyShow. Despite initial reservations from his parents, he skillfully persuaded them to join him on this entrepreneurial odyssey. 

Together, they formed the core trio affectionately known as the “three musketeers,” establishing Bigtree Entertainment Pvt. Ltd. as the parent company of BookMyShow. Collaborating with co-founders Parikshit Dar and Rajesh Balpande, they set out to redefine the dynamics of ticketing, marking the inception of a transformative journey in the entertainment industry.

BookMyShow – Services

BookMyShow, initially focused on movie ticketing, has since diversified its offerings to encompass a wide array of entertainment options, including plays, movies, fairs, sports, and more. The platform also facilitates the reservation of tickets for international events and monument exhibitions. Additionally, the company introduced the option to book tickets for nearby activitibs, expanding its scope of services.

Accessing BookMyShow’s services is convenient through its user-friendly website or mobile app, which was first launched in 2012. Compatible with Windows, Android, iOS, and Blackberry, the app undergoes regular updates and enhancements. In 2017, BookMyShow further enhanced user experience by introducing a ‘progressive web app,’ enabling users to check show timings, book tickets, read reviews, watch trailers, and more. The company ensures round-the-clock customer service for user support.

BookMyShow – Business Model

At the core of BookMyShow’s business model is its exclusive access to Vista ERP APIs, enabling real-time integration of movie ticket availability. Expanding beyond ticketing, the platform leverages these APIs to offer related services such as parking, food and beverage, shopping, retail, and security, thereby enabling upselling and cross-selling. The technology also supports offline ticketing through specific touchpoints and kiosks, enhancing client accessibility and diversifying revenue streams.

BookMyShow – Revenue Model

BookMyShow derives revenue from multiple sources:

Ticketing Revenue: This constitutes the primary source of income, including commissions on ticket purchases and internet handling fees. Convenience fees, charged in addition to the ticket price, contribute to revenue. For non-movie events, the company earns a commission on the sale of tickets.

Non-ticketing Revenue: BookMyShow offers businesses the opportunity to promote their art, including films and short films, to a broad online audience. Partners leverage BookMyShow’s extensive page views for advertising, creating interest and awareness. Once payment is received, a ticket is considered sold, and cancellations or refunds are not permitted.

BookMyShow – Challenges Faced

BookMyShow navigated a challenging journey from its inception, facing obstacles ranging from the complexities of launching a new business to the financial crises of 2007 and the ‘Dot Com’ bubble of 2002. In its early days, online ticket sales were uncommon, hindered by limited use of credit cards, debit cards, and net banking facilities. Insufficient internet access and the absence of e-ticketing software in theaters compounded the difficulties.

Despite initial offline business models, the company evolved over time. BookMyShow overcame challenges, transitioning from purchasing tickets in bulk and manually delivering them by bicycle to a scalable and technologically advanced platform. The ‘Dot Com’ crash in 2002 presented a significant setback, with investors withdrawing support. BookMyShow, however, resiliently repurchased its company from News Corp., marking a turning point in its history.

BookMyshow :Transforming the Ticketing Landscape

Elevating the ticketing landscape of BookMyShow necessitates the integration of cutting-edge strategies and technologies aimed at refining user experiences, bolstering operational efficiency, and maintaining a competitive edge. 

The following delineates various avenues through which BookMyShow can undergo a transformative evolution in its ticketing infrastructure:

User-Centric Design:

In the pursuit of an enhanced user experience, it is imperative to undertake a meticulous redesign of the user interface, fostering heightened intuitiveness and user-friendliness. Furthermore, the implementation of a sophisticated personalized recommendation system, grounded in user preferences and historical interactions, serves as a pivotal mechanism to augment user engagement.

Mobile-First Approach:

To address the burgeoning mobile user demographic, a strategic optimization of the platform for mobile devices is paramount. The development of a comprehensive mobile application, featuring functionalities such as mobile ticketing, in-app purchases, and event reminders, not only caters to the evolving preferences of users but also fortifies the platform’s accessibility.

Virtual Reality (VR) and Augmented Reality (AR):

The infusion of Virtual Reality (VR) and Augmented Reality (AR) technologies is instrumental in furnishing users with immersive previews of venues and interactive seat maps. Enabling users to virtually experience events prior to ticket acquisition not only underscores technological prowess but also contributes to a heightened level of user satisfaction.

Blockchain for Security:

To fortify the integrity of transactions and engender transparency, the adoption of blockchain technology is recommended. By leveraging blockchain, BookMyShow can proactively combat ticket fraud and establish the bona fide authenticity of tickets, thereby cultivating a secure and trust-centric ticketing environment.

BookMyShow Unveiled: Pioneering the Symphony of Online Ticketing Evolution

This transformation is propelled by the widespread integration of digital technologies and the associated conveniences they afford. In this context, BookMyShow has emerged as a trailblazer, spearheading advancements within the online ticketing industry.

1. Convenience and Accessibility:

The transition to online ticketing obviates the necessity for physical presence at conventional ticket counters, providing users with the unparalleled convenience of procuring tickets from any location at any time. BookMyShow’s online platform, characterized by 24/7 accessibility, empowers users to seamlessly browse, select, and purchase tickets at their discretion, aligning seamlessly with the exigencies of contemporary, fast-paced lifestyles.

2. Extensive Event Coverage:

BookMyShow’s online platform serves as an aggregative hub encompassing a diverse array of events, spanning movies, concerts, sports events, and theatrical performances. This comprehensive coverage consolidates the traditionally fragmented ticketing landscape, presenting users with a centralized and all-encompassing destination for their varied entertainment requirements.

3. Real-Time Updates and Information:

Online ticketing provides users with real-time updates and pertinent information concerning events, including seat availability, showtimes, and venue details. BookMyShow’s platform stands out by ensuring users are kept abreast of last-minute changes, thereby fostering a ticketing experience that is both seamless and consistently up-to-date.

4. Seamless Booking Process:

The online ticketing process on BookMyShow is meticulously designed to be user-friendly, featuring a streamlined booking procedure that minimizes the steps necessary to complete a ticket purchase. Users can effortlessly select their preferred seats, execute secure online payments, and promptly receive electronic tickets, thereby streamlining the entire ticketing process.

5. Personalization and Recommendations:

BookMyShow employs advanced data analytics to deliver personalized recommendations, elevating the overall user experience. The platform’s sophisticated recommendation engine suggests events based on individual user preferences and past interactions, thereby contributing to a more tailored and engaging ticket-buying journey.

BookMyShow : Investors

BookMyShow – Investments

BookMyShow – Remarkable Expansion in the Entertainment Industry

In an era where procuring movie tickets was confined to the physical confines of theater counters, BookMyShow emerged as a pioneering force, orchestrating a transformative shift through the utilization of digital technology.

Examining its substantial growth, it is imperative to acknowledge that BookMyShow has expanded its operations to encompass over 650 towns and cities, overseeing ticketing services for more than 5,000 screens across India. Furthermore, the company made significant strides beyond national borders by venturing into the Southeast Asian markets in 2016, attaining commendable success in the region.

BookMyShow – Competitors

Note: BookMyShow has an early-bird advantage over its local competitors.

As of a 2018 news report, BookMyShow faced formidable competition from Paytm, which enticed users with discounts and cashback on movie ticket purchases through its platform. Despite this rivalry, a Kalagato report revealed that BookMyShow maintained a commanding 78% market share in the online movie ticketing sector at that time.

BookMyShow owner Ashish Hemrajani affirmed, “Our market share in movie-ticketing has not changed; it has actually gone up. We oscillate between 70% and 75%.”

BookMyShow – Partners

| Inox Leisure Dispute | In September 2018, a dispute arose between BookMyShow and Inox Leisure, the second-largest multiplex chain in India, leading Inox to temporarily cease selling tickets on the BookMyShow platform. Inox demanded additional payment for ticket sales, which BookMyShow initially declined. However, discussions resumed in October 2018, resolving the disagreement. |

BookMyShow – Future Plans

Conclusion : 

BookMyShow’s remarkable journey, from its entrepreneurial genesis to its current position as a global player, underscores its resilience, innovation, and strategic prowess. As the entertainment industry continues to evolve, BookMyShow remains at the forefront, poised for sustained success and influence in shaping the future of entertainment ticketing.