According to BMS, there is a vibrant community in India that is consuming entertainment out of home (OOH)
How do Indians keep themselves entertained?
It is either a visit to the theatres or sitting on a couch to catch up with the latest films or series on streaming platforms or television.
But now, there are more ways than ever -- with special focus on out-of-home entertainment. And BookMyShow (BMS) is hoping to ride the trend by emphasizing more on sports and live events.
In fact, Albert Almeida , COO – Live Entertainment, BookMyShow, is confident that the sports and live entertainment segment will see huge growth.
“If we are delivering 35 percent this year, 50 percent revenue will come from the live entertainment segment by 2021,” he said.
Times are going to be more exciting for sports enthusiasts as BookMyShow is bringing to India NBA (National Basketball Association), a major professional sports league gaining popularity globally.
NBA is bringing two pre-season games of Indiana Pacers and Sacramento Kings to India in October. BookMyShow is the ticketing partner, and is also organising the matches.
In fact, the Kings is majority owned by India-born and Mumbai native Vivek Ranadive.
While NBA has a huge fan following on home turf North America, they have, over the years, built a market overseas. They have also forayed into China and that means large viewership for the league.
Recently, Chinese tech giant Tencent renewed its partnership with NBA for live-streaming, video-on-demand services and other content of the league.
Similarly, India is also turning out to be a lucrative market for NBA which is why “for the last several years NBA has been making investments in India," said Albert Almeida, COO – Live Entertainment, BookMyShow.
Along with the games this year, NBA will conduct junior NBA youth basketball programming NBA Cares community outreach events.
And this shows that NBA sees in India the next valuable market. This is why “their Sunday afternoon game played in US is being played Sunday morning so that it becomes Sunday prime-time game in India,” Almeida added.
But BookMyShow’s rendezvous with sports leagues does not start and end with NBA.
The platform started ticketing for the Indian Premier League (IPL) in 2010, Indian Super League (ISL) in 2013 and Pro Kabbadi League (PKL) in 2014.
It has also been widening its international sport outreach over the past few years across Indonesia, Caribbean Islands, Sri Lanka and UAE.
It was the official ticketing partner for two World Cup events consecutively in 2016, ICC T20 World Cup during which it hosted 35 matches across India in various stadiums and Kabaddi World Cup 2016 which was hosted in Ahmedabad.
Last year BMS had also won exclusive ticketing rights for Caribbean Premier League, an annual Twenty20 cricket tournament held in the Caribbean. And now the CPL has signed a three-year extension with BMS.
Other partnerships include ticketing rights for WWE matches in India (2016 and 2017), Premier Badminton League (2016 and 2017), ICC World Twenty20 in Bangladesh (2014) and contract with Sri Lanka Cricket that stands till date.
In 2011, it had also worked with Formula 1 to bring their first race to India.
And it looks like sports fans are enjoying these leagues as BMS’ sports vertical has grown tremendously leading to increased ticket sales and revenues.
From 2016 to 2018, BookMyShow sold tickets worth Rs 1,000 crore. So far this year, the platform has sold tickets worth Rs 350 crore.
BMS is focusing on domestic leagues along with international leagues.
It has ticketed and managed ground operations for the T20 Mumbai League. It was ticketing partners for the Karnataka Premier League in 2017 and Tamil Nadu Premier League in 2018.
While in FY18 revenue from domestic sport offerings formed 90 percent of BMS’ sporting revenues, in FY19, BMS’ international sport offerings grew 3x in one year forming 30 percent of the entire sporting revenue pie for the company.
“There are more and more people not just at the apex level but even in smaller geographies participating in the sport eco-system. There are a lot of registrations for marathons. All this augur well for the fact that there is a lot that can be done for sport and other live entertainment opportunities,” said Almeida.
Along with sports out of home entertainment has on offer events like music concerts, stand-up comedy, circus, theatre, among others.
“Sports is one part of it, another large pillar is theatre, followed by live experience ranging from concerts like Ed Sheeran, Arijit Singh, AR Rehman, Disney's Aladdin, Cirque du Soleil's show - Bazaar. These are things that consumers put great value on,” said Almeida.
BMS is also looking to sell tickets for sight seeing of various monuments. It is also in conversation with Kerala boat race organizers who are planning to turn the competition into a league.“There is a vibrant community that is consuming entertainment out of home (OOH) and that is why we are stimulating the OOH experience,” said Almeida.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.