Home News The New Age of Live Entertainment: BookMyShow’s Strategy

The New Age of Live Entertainment: BookMyShow’s Strategy

BookMyShow's Strategy

In an era defined by rapid digital transformation and evolving consumer behaviors, BookMyShow, under the leadership of Ashish Hemrajani, has emerged as a frontrunner in India’s entertainment ticketing sector. Founded in 1999 as Bigtree Entertainment Pvt. Ltd., BookMyShow has navigated through the dot-com bust, financial crises, and most recently, the global pandemic, to redefine entertainment for a burgeoning youth demographic and a rising middle class.

Key Highlights:

  • Pioneering in Online Ticketing: BookMyShow has solidified its position as India’s largest entertainment ticketing platform, with sales exceeding 200 million tickets annually.
  • Adaptation and Resilience: Surviving major economic downturns, the company emphasizes patience, perseverance, and ethical business practices.
  • Innovative Business Model: Unlike chasing discounts, BookMyShow focuses on building value and customer loyalty through quality experiences.
  • Expansion into Live Events: Recognizing the constraints in supply, BookMyShow ventured into live events to catalyze growth in this vertical.
  • BookASmile Initiative: Launched in 2014, this charity wing aims to provide underprivileged access to sports and entertainment, positively impacting over 200,000 lives.

During the challenging times of the pandemic, BookMyShow showcased remarkable agility by resizing its team, closing non-core businesses, and pioneering into new verticals like on-demand movie platforms and a SaaS model for entertainment ticketing. The strategic downsizing from 1,700 to 550 employees and the shutdown of consumer business in regions like Indonesia, Malaysia, and Dubai were critical decisions that allowed the company to navigate through the pandemic’s impacts on its core movie ticketing business​​​​.

The Power of India’s Young Consumers

India boasts one of the world’s largest youth populations, a generation eager for diverse, thrilling experiences. Concerts, music festivals, sports matches, and other live events are becoming integral parts of their social lives. Hemrajani notes this shift, emphasizing that India’s youth are looking for excitement beyond the confines of movie theatres.

More Money, More Experiences

As India’s economy grows, disposable incomes are increasing. This newfound financial freedom allows people, especially the youth, to allocate more towards leisure and entertainment. The result is a boom in demand for tickets to a wide range of live events.

BookMyShow: Mirroring the Trend

BookMyShow, initially known for movie tickets, has successfully expanded its offerings. The platform now sells tickets for varied live events, including theater, comedy shows, sports, and more. This transformation reflects the changing landscape of the entertainment industry, catering to evolving consumer demand.

Ashish Hemrajani’s leadership philosophy, emphasizing long-term vision, ethical practices, and the importance of a company’s duty towards its employees and society, has steered BookMyShow through the tumultuous waters of the entertainment industry. His insights into the importance of live events and the potential of digital platforms in enhancing consumer experiences reflect a deep understanding of the evolving entertainment landscape in India and beyond.

The journey of BookMyShow, from overcoming the dot-com bust to pioneering new growth avenues in the entertainment ticketing sector, serves as a compelling narrative of innovation, resilience, and the relentless pursuit of excellence. As the world gradually emerges from the shadows of the pandemic, BookMyShow’s strategic pivots and focus on building a broad spectrum entertainment ecosystem offer valuable lessons for businesses aiming to navigate the complexities of the digital age.

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