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BookMyShow expands international presence in Indonesia and Sri Lanka

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BookMyShow said that it clocked in 2.2 billion page views for the quarter ended September 30 (Q2 FY17), an increase of 10% from the same quarter last year. Note that Network18 has not disclosed operational and financial details of BookMyShow this quarter. In Q1 FY17, the ticketing company reported revenues of Rs 78 crore, up 30% y-o-y from Rs 60 crore in the same quarter last year.

The company said that it sold over 30 million tickets in Q1 FY17 compared to 22 million in the same quarter last year, registering a growth of 38%.

For FY 2015-16, BookMyShow sold an average of over 7.8 million tickets per month on its website and its mobile application, clocking a growth of over 82%. Big Tree Entertainment, the company that operates BookMyShow, reported revenues of Rs 235.94 crore for FY 2015-16. It reported a profit Rs 3.17 crore for the period.

Funding

In July, the company raised Rs 550 crore from US-based private equity firm Stripes Group. Other existing investors – Network 18, Accel Partners and SAIF Partners – also participated in the round of funding. It had raised Rs 150 crore from SAIF Partners and others in 2014. The company raised Rs 100 crore from Accel Partners in return for a minority stake in the company in August 2012. Network18 owns 39.35% in BookMyShow. Before BookMyShow raised funding from Accel Partners, Network18 held 60% in the company, in FY12.

International presence

The company said that it has expanded its international presence and sees in Indonesia and Sri Lanka as promising for growth. Note that it is unclear whether BookMyShow has separate operations in the the two countries but it had begun selling tickets for international events through online ticket marketplace Viagogo back in 2014.

During the quarter, BookMyShow managed the cricket series between Australia and Sri Lanka. It also managed the Pro-Kabbadi league and other regular events.

Download: Network18’s quarterly report

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