BookmyShow is India’s largest online ticket buying platform for movies or events. It allows the purchase of tickets for events like IPL, plays, concerts and live shows, etc. as well. Started in 1999, this online portal was founded by Mr Ashish Hemrajani, Mr Parikshit Dar, and Mr Rajesh Balpande.
It has access to the Vista ERP API(Application Program Interface), software used by movie theatres. It has associated it with the app to show the availability of tickets for different movies. The business emerged to be successful despite having no investors from the year 2002 to 2006. The increase in the number of multiplexes and the betterment of the internet services around the country convinced the investors to invest in the idea of an online ticket booking platform.
Here is how Bookmyshow makes money:
- The ticketing revenue of BookmyShow is the primary revenue earned of the company. 60% of the total revenue is contributed by booking tickets.
- The company charges internet handling fees and a convenience fee over the base price of the tickets. For the purchase of tickets for other events like cricket matches, live shows, etc. BookmyShow gets a commission from the event organizers.
- Considering the massive number of page views, BookmyShow has a service of promotions for artists and their works. This contributes to the other 40% of the revenue the company gains.
BookmyShow started working in South East Asia in 2016. Its headquarters is based in Indonesia and it has been funded by Jungle Ventures which invested in their company in January 2019. Through this investment, the company is planning to shift the headquarters of BookmyShow SEA to Singapore.
The early days of the company were not easy. Due to poor quality of internet and its less usage, lack of e-ticketing software in all movie theatres, and many other issues, BookmyShow faced a major crisis till a certain point of time. But with more usage of credit/debit cards, better internet provisions, etc. the company restarted its journey towards success. It was worth 24.1 crores in 2007. BookmyShow offers a plethora of movie and event tickets with exciting offers.
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