BookMyShow: How is it Facilitating Hassle-Free Booking of Tickets

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Are you a movie buff? If it is a no, then sorry to name you out in your bluff. Come on, there are endless reasons for watching a movie: for unwinding after a long day, escaping reality for a couple of hours, having a good laugh, spending time with friends, and the list goes on and on. The genre differentiates the audience; some love action, others root for rom-coms, teens want drama, and all that jazz. Choices are never-ending. However, it is important to note that there's something for everyone.

One platform that unites all moviegoers is BookMyShow, a platform that offers a plethora of options when it comes to booking tickets. Movies, parties, events, and everything else you can imagine—BookMyShow has it all covered. Booking tickets has become as easy as ABC courtesy of this venture. But turning into a successful venture wasn't an overnight journey for them.

In this article, let's explore the world of BookMyShow—its founders, History, Startup story, business and revenue model, controversies, funding, growth, and all the information about the company.

BookMyShow - Company Highlights

About BookMyShow
BookMyShow - Industry
BookMyShow - Founders and Team
BookMyShow - History | Startup Story
BookMyShow - Name, Tagline and Logo
BookMyShow - Services
BookMyShow - Business Model
BookMyShow - Revenue Model
BookMyShow - Challenges Faced
BookMyShow - Funding And Investors
BookMyShow - Investments
BookMyShow - Mergers and Acquisitions
BookMyShow - Growth
BookMyShow - Controversy
BookMyShow - Awards and Achievements
BookMyShow - Competitors
BookMyShow - Partners
BookMyShow - Future Plans
BookMyShow - Founder's Advice

About BookMyShow

The company is currently India’s largest entertainment ticketing platform. BookMyShow started out in 1999 as a software re-seller for movie theaters and converted into a platform catering to cloud-based ticket booking of events, movies, sports, and plays. BookMyShow was known by the name of its parent company, Bigtree Entertainment Pvt. Ltd., at the time of its inception.

It operates in five countries with more than 30 million customers. In sixteen years, BookMyShow has been through a roller-coaster ride, seeing all kinds of crests and troughs. From INR 25,000 in initial capital to INR 976 crore in revenue in FY2023, from the 'Dot Com' crash in the early 2000s to the global financial crisis of 2008, the company has a story at par with the David v/s Goliath legend. It managed to sail through tough times and emerged as a winner in the end.

BookMyShow - Industry

A thorough analysis from Statista indicates that the entertainment industry is expected to rise significantly, with total revenue expected to reach an astounding US$31.23 billion in 2022. The prognosis indicates a strong trend, with a projected 11.44% annual growth rate (CAGR 2022–2027). In the future, the market is anticipated to grow to unprecedented heights, with a projected value of US$53.13 billion by 2027.

BookMyShow - Founders and Team

The founders of BookMyShow are three friends: Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande. They are the alumnus of Sydenham Institute of Management, Mumbai University. Ashish Hemrajani is the CEO of BookMyShow.

Ashish Hemrajani

Ashish Hemrajani is an MBA Marketing graduate from Sydenham. Before launching BookMyShow, Asish worked at J. Walter Thompson, an advertising firm, where he served in the Account Management and Client Management departments respectively. He then pivoted with BookMyShow and is still the Founder and CEO of the company.

Under Ashish’s leadership, Bigtree Entertainment survived the Dot Com bust by providing back-end ticketing services to cinema theatres and selling the Vista ticketing software. Multiplexes have been developing and credit/debit card penetration inside the marketplace extended which brought about the release of BookMyShow. Ashish and his team saw the opportunity and made it successful.

Rajesh Balpande

Rajesh Balpande worked as an investment banker with The Chatterjee Group before joining his friend Ashish in the venture. He is still known as the Co-founder of BookMyShow.

Parikshit Dar

Parikshit Dar is another co-founder of BookMyShow. Dar is currently known as the Director of Bigtree Entertainment and the co-founder of BookMyShow. Dar was also a student of Sydenham College of Commerce and Economics along with the other founders and completed his MBA in 1997. With expertise in technology, Dar was involved in the tech part of the brand and its website. From designing and developing the BookMyShow website to building its ticketing portal and supporting back-end technology, Dar's contribution to BookMyShow is huge!

BookMyShow - History | Startup Story

Ashish got inspiration when backpacking in South Africa, following his master's degree completion and working with J.W. Thompson, and alcohol turned out to be the trigger for change. He was sitting under a tree, quietly listening to a radio ad for rugby tickets, when it dawned on him. This idea ignited Ashish, who left his job and immediately returned to India to fully commit to realizing his vision. Bigtree Entertainment Pvt. Ltd. was established to completely change the ticketing industry.

At the age of 24, Ashish founded his internet business, BookMyShow, converting his bedroom into its headquarters, despite his parents' early misgivings. Overcoming obstacles, he persuaded his parents to support him, and the three of them—known as the "three musketeers"—founded Bigtree Entertainment Pvt. Ltd., the parent business of BookMyShow, along with co-founders Parikshit Dar and Rajesh Balpande.

BookMyShow - Name, Tagline and Logo

BookMyShow was initially branded as ‘Go For Ticketing’. In 2002, the company was renamed ‘India Ticketing’ before ending up with the current name.

When the business was still known as India Ticketing in 2007, it held a contest for its staff to select a name for the business. The winner of the contest was given an iPod touch. An engineering intern proposed the name BookMyShow. This is how the project came upon a name that complemented its goals and objectives.

BookMyShow - Services

BookMyShow initially kept itself to movie tickets but soon had its fingers in various pies. Today, it offers tickets for just about any type of entertainment, including plays, movies, fairs, sports, and more. On the platform, you can also reserve tickets for international events and monument exhibitions. Tickets for nearby activities were also introduced by the company.

One can avail of the services of BookMyShow through its website or mobile app. The app was first launched in 2012. It's available for Windows, Android, iOS, and Blackberry. The company maintains updating and upgrading the app from time to time. BookMyShow also launched a 'progressive web app' in 2017. The app allows users to check show timings, book tickets, read reviews, watch trailers, and more. BookMyShow also provides 24/7 customer service.

BookMyShow - Business Model

The core of BookMyShow's business model is its exclusive access to Vista ERP APIs, which allow for the integration of real-time movie ticket availability. To enable upselling and cross-selling, the platform extends these APIs to offer related services, including parking, food and beverage, shopping, retail, and security. The technology also supports offline ticketing via specific touchpoints and kiosks. This multifaceted strategy enhances BookMyShow's client accessibility and variety of revenue streams.

BookMyShow - Revenue Model

BookMyShow makes money through the following sources:

1. Ticketing Revenue: This represents the primary revenue source for the overall results. It includes commissions on ticket purchases and internet handling fees. Convenience fees are extra that the company charges on top of the ticket price. BookMyShow maintains this distinction. Regarding events that aren't movies, it receives a commission on the sales of those tickets.
2. Non-ticketing Revenue: To increase "interest creation" with the internet public, any business that wishes to promote its artwork—which includes, but is not limited to, films and short films—can get in touch with BookMyShow. The business that partners with BookMyShow uses the latter's enormous page views to advertise new performers and their products. A ticket is considered sold once payment has been received. At that point, the ticket cannot be canceled or refunded.

BookMyShow - Challenges Faced

The company had a difficult journey ahead of them. BookMyShow has experienced it all, from the difficulties of launching a new business to the financial crisis of 2007 to the 'Dot Com' bubble of 2002. Online ticket sales were not common when BigTree Entertainment Pvt. Ltd. was founded in 1999. Even then, the internet remained a dynamic, experimental environment. The main obstacles to ticket sales were credit card, debit card, and net banking facilities' uncommon, if not nonexistent, use. The problems were exacerbated by inadequate internet access and the absence of e-ticketing software in theaters.

BookMyShow once purchased tickets in large quantities and dispatched hundreds of workers to deliver them to clients by bicycle. Nevertheless, the company had to scrap it because the business model wasn't scalable.

Initially, BookMyShow conducted the majority of its business offline. Despite the challenges, the company was performing well, with 150 people spread over 12 call centers in 12 cities. Chase, the business's financial partner, sold News Corp., owned by Rupert Murdoch, its share. Then, the "Dot Com" crash hit it in 2002. It was the lowest point in the company's history. The investors withdrew, forcing BookMyShow to repurchase their company from News Corp.

To mitigate the problem, BookMyShow reduced major expenses, including personnel wages. It even closed down a few offices and concentrated only on Delhi and Mumbai, the two largest cities. There were only six people left on the skeleton crew, down from 150. Even in the face of these difficulties, Ashish, Parikshit, and Rajesh persevered. Some positive developments in the Indian market have been brought about by the end of the 'Dot Com' scandal.

Internet facilities improved, and credit/debit cards became popular. The number of multiplexes proliferated. BookMyShow wanted to gain back its strong footing. It started selling software solutions, providing automated ticketing software to multiplexes. The company also started running call centers for its clients. BookMyShow gradually generated profits and was worth Rs 24.1 crore in 2007.

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 - Funding and Investors

BookMyShow raised over $224.5 million in six rounds of funding.

Here is the funding breakdown:

INOX’s revenue soars 17% compared to last fiscal; Resuming ties with Bookmyshow

The country’s second-largest multiplex chain, INOX and BookMyShow (BMS), the biggest online ticketing platform have reconciled after their dispute where the former terminated its long-term contract of a four year deal with BMS after the disagreement over payments early September. INOX had demanded m…

StartupTalkyShubham Kumar

BookMyShow - Investments

BookMyShow has invested in three companies to date:

BookMyShow - Mergers and Acquisitions

BookMyShow or BMS has acquired seven companies. Here are the details of the acquisition:

BookMyShow - Growth

Only in theaters and buying movie tickets meant only at the movie hall counters. Therefore, BookMyShow undoubtedly brought nothing short of a revolution here, leveraging digital technology.

Looking at the growth, it is to be noted that BookMyShow is presently operating in 650+ towns and cities including Hyderabad, Bangalore, Chennai, Pune, Mumbai, and 5,000+ screens in India. The company also forayed into the Southeast Asian markets in 2016 and was successful there.

Financials

In FY22, BookMyShow had an operating revenue of Rs 277 crore, but its total expenses were Rs 395 crore, resulting in a loss of Rs 92 crore. In FY23, the company's operating revenue increased to Rs 976 crore, while total expenses were Rs 941 crore. This change led to a profit of Rs 85 crore. Overall, BookMyShow saw a significant turnaround, moving from a loss of about 33% of its revenue in FY22 to a profit margin of about 9% in FY23.

EBITDA

BookMyShow - Controversy

The authorities are investigating BookMyShow for allegedly helping with illegal ticket resales of the Coldplay concert scheduled for January 18, 19, and 21 of 2025 in Navi Mumbai, India.

The CEO, Ashish Hemrajani, and technical head have been called in by the Mumbai Police after tickets that cost INR 2,500 were being sold for up to INR 3 lakh. A lawyer filed a complaint saying this was a fraud. The police are looking into it, as reselling tickets for higher prices is against the Maharashtra Entertainment Act.

In response, the police filed an FIR based on BookMyShow’s complaint, which names 30 suspects involved in selling fake tickets or reselling them at inflated prices, including individuals and websites like Viagogo. The FIR was filed by Pooja Mitra, the legal manager at BookMyShow, part of Big Tree Entertainment.

BookMyShow - Awards and Achievements

Here are some of the prominent accomplishments of BookMyShow:

• 'The Hottest Company of the Year-2011-12' and 'The Company to Watch Out for' at the prestigious CNBC Young Turks Award
• ‘Best Omni-channel Customer Experience Brand’ at the OneDirect Quest Customer Experience (QuestCX) Awards
• BookMyShow earned an operating revenue of Rs 277 crore in FY2022, which is recorded at Rs 976 crore in FY2023
• Became exclusive ticketing partner for Formula 1 race in India
• Became official ticketing partner for Mumbai Indians, Kings XI Punjab, Delhi Daredevils, Pune Warriors, and Rajasthan Royals in IPL
• Attracted funding from big names like Stripes Group, Network 18, Accel Partners, and SAIF partners
• Covers 5,000+ screens
• Covers 650+ towns and cities
• Operating in 5 countries
• 30 million+ customers
• 2 billion+ page views a month
• 15 million+ tickets sold in a month
• 50 million+ app downloads

BookMyShow - Competitors

BookMyShow's local competitors include:

• Explara
• TicketGenie
• Kyazoonga
• IndianStage
• BookMyEvent
• MeraEvents
• Asklaila
• TicketCountes

However, it has an early-bird advantage over them.

As per a news report of 2018, BookMyShow had faced stiff competition from Paytm, which offered discounts and cashback to users on the purchase of movie tickets through the Paytm platform. Despite the competition, a report by Kalagato stated that BookMyShow held a 78% market share in the online movie ticketing sector at that time.

As BookMyShow owner Ashish Hemrajani puts it, "Our market share in movie-ticketing has not changed, it has actually gone up. We oscillate between 70% and 75%."

BookMyShow - Partners

BookMyShow reduced employee pay and other significant costs to lessen the crisis' consequences. It concentrated solely on the two largest cities, Delhi and Mumbai, closing down even a few offices. The skeletal crew had just six people, down from 150. Despite these difficulties, Rajesh, Parikshit, and Ashish remained persistent. There have been some positive changes in the Indian market since the 'Dot Com' fiasco passed.

Due to a disagreement between the two parties, Inox Leisure, the second-biggest multiplex chain in India, ceased selling its tickets on the BookMyShow platform in September 2018. BookMyShow was asked to pay Inox additional money in exchange for the ability to sell its tickets, but the latter company declined to comply. Thankfully, the disagreement was short-lived, as the two sides resumed discussions in October 2018.

BookMyShow - Future Plans

The company wants to add a merchandising section on its website where fans can buy tees, hoodies, and other apparel. The company is going to focus on the mobile segment, as nearly 25% of the total bookings are done through BookMyShow's mobile app.

BookMyShow - Founder's Advice

"It is all about going out and trying. But don’t follow the herd. You have got to be very clear why your idea or you as a person will succeed in this environment. How disruptive your technology is.", said Ashish Hemrajani, BookMyShow owner.

We hope this gave you some insight into this beloved company for movie and entertainment lovers. Now, if you'll excuse me, I have to go book my show at BookMyShow! (Wink, Wink)

FAQs

Who owns BookMyShow?

Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande own BookMyShow.

What is BookMyShow?

BookMyShow is currently India’s largest entertainment ticketing platform. BookMyShow started out in 1999 as a software re-seller for movie theaters and converted into a platform catering to cloud-based ticket booking of events, movies, sports, and plays.

When was BookMyShow founded?

BookMyShow was launched in the year 1999.

How much is BookMyShow's valuation?

The valuation of BookMyShow is estimated around INR 7,500 crore ($900 million) as of 2024.

Who is the owner of BookMyShow?

Bigtree Entertainment is the owner of BookMyShow.

BookMyShow is which country's app?

BookMyShow, perhaps the default name for online ticketing in India, is one of the top three eCommerce websites in India.

Which is BookMyShow parent company?

Bigtree Entertainment Pvt. Ltd launched India's first ticketing aggregator - BookMyShow.