BookMyShow is a digital platform for ticketing services that announced a 43.2 percent increase in operational revenue to Rs 1,396.86 crore in FY24. The startup provides a digital platform that allows users to search for shows on websites and buy tickets for events including music concerts, sports, and more. Online ticket booking and software sales are the company’s major source of revenue. The online application categorizes movies by language and genre to help users find the films more easily with their preferences.
The firm also earns income through advertisement, subscription contracts, and other services. The firm earned Rs 33.28 crore from interest and gains on financial assets while marketing, gift vouchers, and software services contributed Rs 140.57 crore in total income. The company has secured over Rs 1,490 crore across multiple funding rounds since its inception. The startup data intelligence platform, thekredible mentioned that Network 18 is the largest external stakeholder with around 39 percent of the firm’s share.
The Mumbai-based startup claims to operate its business with 17 subsidiaries and two joint ventures. The firm provides solutions for booking tickets to events, concerts, and movies. The online platform uses advanced technologies to offer a seamless user experience. The revenue from online ticketing increased by 23.8 percent and stood at Rs 801.57 crore in FY24. This income accounted for 57.4 percent of the total revenue. The live event services contributed Rs 454.72 crore in this financial year.
BookMyShow posted a 27.6 percent increase in its profit and crossed Rs 108.63 crore in FY24. The employee benefits increased by 24 percent and stood at Rs 170.72 crore in the same duration. The paid revenue share accounted for 43.6 percent of the total expenses in this fiscal year. The production cost also increased by 95 percent to Rs 233.49 crore in FY24. The total expenditure of the firm increased by 40.3 percent and crossed Rs 1,319.98 crore in the same duration.
The company managed to control its losses and saw an increase in profit in FY24. The firm aims to minimize its loss by cost-cutting measures. The startup’s operating cashflows saw a slip of 85.3 percent to Rs 33.54 crore during the period. The EBITDA margin stood at 11.07 percent in this fiscal year while the ROCE was around 15.25 percent in the same duration. BookMyShow faces competition from other booking platforms such as Zomato and Ticketmaster.
Conclusion :
The online ticket booking platform BookMyShow announced a 43.2 percent increase in its revenue from operations to Rs 1,396.86 crore in FY24. This online platform provides solutions for booking tickets to events. Online ticketing and interest income are the firm’s primary sources of revenue. The profit saw a 27.6 percent increase to Rs 108.63 crore in FY24.
The total expenditure increased by 40.3 percent and crossed Rs 1,319.88 crore in the same duration. Meanwhile, employee benefits also grew by 24 percent to Rs 170.72 crore in this financial year. The startup plans to follow cost-cutting measures and maintain its profitability.
Niraj Kumar is the Founder and CEO of Scoopearth, bringing over 13 years of experience across diverse domains, including journalism, content marketing, digital marketing, startup mentoring, and business coaching. His extensive background and leadership have made a significant impact in these areas, helping startups grow and succeed in a competitive landscape.
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