book my show
DESCRIPTION
The business model of bookmyshow.comTRANSCRIPT
Submitted by:
Group 5, S-5
Akhil Midha 12DM-017
Gourav Gupta – 12IT-008
Himika Chaudhary 12FN-058
Mohit Karpe 12DM-090
Nitin Mudgal 12IB-030
Praniti Agarwal 12HR-019
The initial stages..
• The lack of e-ticketing software in theatres and single screens meant the team had to buy tickets in bulk from theatres in advance and then sell this inventory to customers.
• During weekdays, they suffered losses when they could not sell the tickets and on weekends there was the opportunity loss because the booking wasn't happening real time, all in all – “it was a non-scalable model”.
• Major difficulty was due to the Telegraphic Act and Cinematic Act (1950) which did not allow automated booking of tickets outside the box office, but an amendment 18 months later took care of that difficulty.
A true survivor..
• Survived the dotcom bust in 2000.• Strength came down to 6 from 150.• Salary cuts and had to renegotiate with investors and it was
decided to invest every single rupee earned back into the business.
• The damage was so deep that Bigtree didn’t hire even when market turned bullish.
The growing years..
• Between 2002 and 2004, as the number of multiplexes across India grew, Bigtree turned into a software solutions provider that sold automated ticketing software to theatres.
• Bigtree has also ensured that it stays ahead of the competition by selling CRM (customer relationship management) and loyalty software to all multiplexes.
Calculating Revenue..
Earnings:• From tickets
Convenience Charges collected from 750,000 tickets sold every month.
(The company has ticketing partnerships with over 1,000 screens across 50 cities.)• From Ads - $2,188 Daily = $2,188 x 30 = $65,640 Monthly• BookMyShow clocked its maiden profit for the year ended
March 31, 2012, with its revenues almost doubling (82 per cent growth over FY11) to Rs 29 crore on net profit of Rs 1.4 crore.
Ticketing Partners for..
• Apart from tickets from multiplexes they provides tickets for:• Events & Plays• IPL (Official ticketing partners for Mumbai Indians and
Kings XI Punjab)• Other Sports & Concerts• Parties (New year parties)
S.W.O.T.
Strength• Bookmyshow has over 90% market
share in the online entertainment ticketing space.
• Tickets can be booked through various platforms like internet, mobile application, WAP and the in - house call center.
• BookMyShow has partnerships with all major Indian production houses and studios.
• Adequate funding available.
Weakness
• There are still events across the country whose tickets are not sold online. (eg. Exhibitions)
S.W.O.T.
Opportunity
• With increase in internet they can expand in tier3 and other tier2 cities.
• Have scope of expanding to other sporting events and parties.
• Can include snack coupons at discounted rates along with tickets.
Threat
• Many multiplex chains have their own websites.
• Competitors like ticketgenie has tie ups with RCB and few other IPL teams.
• Entry barriers are low for other players to come in.
Some Facts..
• Bookmyshow sold Tickets worth 30cr for Mumbai Indians.• 3 Idiots has been the biggest revenue generator in terms of
movies for the website. (Sold tickets worth 9cr).• They sell Mumbai Indians official Merchandise• BookMyShow has launched a Facebook application called
'Ticket Buddy' that allows customers on Facebook to block a maximum of 10 seats of forthcoming movies without having to pay for all; they can even invite friends to join them on the show.
• The company expects the non-movie revenue to grow faster in future.
Some more..
• The firm also raised fresh money from Accel Partners in Aug 2012. The VC firm invested $18 million in total, part of which went to Network18 Media & Investments who sold part of its shares.
• Network 18 now has 40% stake in the bookmyshow.• Bookmyshow has applications for iPhone, android,
Windows Phone & BlackBerry.
Some of their Partners
• Big Cinemas• INOX• Fame Cinemas• Cinemax• Fun Cinemas• DT Cinemas• Wave Cinemas
Sources
• http://in.bookmyshow.com/• http://
www.freewebsitereport.org/www.bookmyshow.com• http://www.medianama.com/2011/08/223-bookmyshow-r
evenues-up-32-to-rs-16-1-crore-in-fy11-rs-41-lakh-loss/
• http://www.watblog.com/2009/05/15/insight-on-bookmyshowcoms-revenue-and-biz-model/