BookMyShow stands as India’s premier online ticketing brand, dominating the market for movies, plays, concerts, and sporting events since its inception in 2007. Headquartered in Mumbai, Maharashtra, it boasts a widespread presence with offices in New Delhi, Bangalore, Hyderabad, Chennai, and Kolkata. With an unwavering commitment to providing a seamless and convenient platform for ticket sales, BookMyShow has become an integral part of the entertainment landscape, offering a comprehensive range of experiences to users across the country.
Ashish Hemrajani’s Odyssey from Observation to BigTree Entertainment
Ashish Hemrajani embarked on a journey that began with a simple observation during his visit to South Africa. The absence of an online platform for booking tickets intrigued him, reminiscent of Newton’s moment of inspiration. The prevailing method involved enduring long queues and purchasing tickets directly from the box office. Undeterred by the lack of options, the 24-year-old visionary, Ashish, decided to leave his lucrative job to establish “BigTree Entertainment,” with his bedroom doubling as the initial office. This marked the birth of “GoForTicketing.”
Revolutionizing Ticketing: Ashish’s Bulk Purchase Venture and JP Morgan’s Vote of Confidence
JP MORGAN
The concept was straightforward – Ashish would purchase movie tickets in bulk and dispatch them via motorbikes directly to people’s homes. The idea gained traction, leading to the establishment of 12 call centers in 12 cities, with a workforce exceeding 150 employees. Witnessing this growth, JP Morgan Chase invested 2.5 CR based solely on a one-page fax from Ashish. Despite the infusion of funds, the market conditions were not favorable.
Navigating the Turbulence: Ashish Hemrajani’s Resilience Amidst Dotcom Challenges and the Birth of BookMyShow
In 2002, India faced challenges with poor internet connectivity, the absence of credit cards, and a lack of online ticketing software at cinemas. Ashish grappled with these issues, compounded by the bursting of the Dot com bubble in the US. JP Morgan Chase withdrew its capital, causing Ashish’s offices to close, and the team size dwindled from 150 to 6. However, Ashish maintained optimism, anticipating a shift after the Dotcom crash.
Indeed, change arrived. Between 2002 and 2004, internet penetration surged, credit cards became prevalent in India, and the number of movie theaters doubled. Recognizing the opportune moment, Ashish revamped the business model, offering the ticketing software to cinemas. The turning point came in 2007 when “BookMyShow” was born.
Strategic Ascension:‘s Investment, Frugal Tactics, and BookMyShow’s Revenue Surge
Network 18
Network 18 invested 14.5 CR in BookMyShow, valuing it at 24.1 CR. With this fresh capital, Ashish steered the business to a revenue of 16.09 CR by 2011. Employing frugal strategies such as maintaining AC temperatures at 24 degrees, turning off alternate bulbs, and adopting a cost-plus hiring approach, he saved every dime.
In 2012, Ashish achieved a milestone by selling 1 lakh tickets daily and over 2 million tickets monthly. Partnerships with PVR and the acquisition of Ticketgreen further expanded BookMyShow’s reach. By 2013, it operated on 1500+ screens. In 2014, the company raised 216 CR and expanded its presence to 200+ cities, diversifying into themes like concerts, exhibitions, and collaborations with brands like IPL and Formula 1. Revenues soared, reaching 300 CR by 2017.
BookMyShow’s Pandemic Pivot: Resilience, Innovation, and Post-COVID Triumph
When COVID-19 struck, Ashish demonstrated resilience by pivoting to online streaming, developing an in-house OTT platform at a cost-efficient 8 CR per movie. Emerging from the pandemic, BookMyShow reported a revenue of 619 CR, growing by 52% and claiming an impressive 85% market share, outshining even industry giants like PayTM.
BookMyShow Today: A Cinematic Tale of Global Success and Spectacular Achievements
Today, BookMyShow operates in over 650 cities and towns across India, serving more than 30 million customers in over 5 countries. With monthly sales exceeding 15 million tickets across 4500 screens, Ashish Hemrajani’s journey is nothing short of a blockbuster movie, marked by rises, falls, and triumphant resurrections.
