BookMyShow, the largest online ticketing platform in India, has owned Hyderabad based ticketing online platform called MastiTickets for an undisclosed amount of fund.
Bookmyshow Replaces Mastitickets
BookMyShow will acquire all the existing cinema partnerships and key assets which would also include the associates from the company as a part of this takeover. It will eventually replace MastiTickets. BookMyShow prepared an objective with this very acquisition to consolidate its rank as well as strengthen its footprints. As per one of the informer, BookMyShow was intended to absorb as much as it can from the small team of MastiTickets i.e., nine member team.
About Masti Tickets
LLC operated MastiTickets.in is an online platform that helps users to book tickets online for events, sports, movies with latest trailers and entertainment in India. Masti is an iOS and Android platform based app developed by the company. MastiTickets had it’s root founded in 2014 by a group of eight members in Hyderabad, India. It has 120 cinemas in Telangana and Andhra Pradesh under its banner. MastiTickets was operating as a part of Bigtree Entertainment Pvt. Ltd till earlier this year.
What Its Executive Said
Ravi Narla, the chief executive officer at MastiTickets stated that, “MastiTickets’ acquisition by BookMyShow was truly the next logical step for us and we are excited about its prospects”.
Additionally he put his statement that, “This (acquisition) brings substantial value addition to our user base and cinema partners in the region, who will now be able to benefit from BookMyShow’s product and service capabilities. It is widely known that BookMyShow has an exceptional track record of being disciplined with their business model and customer service.”
BookMyShow was established in 1999 in Mumbai and successfully launched by Ashish Hemrajani in 2007. It also allows users to book tickets for movies, sports, plays, live events, etc, through website, mobile site, as well as mobile app. In fact it is reachable to almost 400 towns as well as cities in India.
Other Acquisition By The Company
MastiTickets is BookMyShow’s first acquisition this year, though the company has taken over a few startups earlier that included
- TicketGreen in 2013 which was based out of Chennai.
- Later it owned the majority shares of Eventifier in 2015 which was Bengaluru based startup analyzing social media.
- It also owned Chennai based Fantain Sports Pvt. Ltd last year.
Both of the deals emerge BookMyShow discernment for customer requirement and taste that helped it to create related and focused products and services on platform.
Seeking To Expand Its Business
Ashish Hemrajani, chief executive officer and founder of Bigtree Entertainment said, “We have charted an aggressive growth plan to increase BookMyShow’s reach and presence and the acquisition of MastiTickets fits perfectly into its expansion strategy”.
He also said on acquisition that, “Hyderabad, particularly, has been a high performing market for us, and now, having combined forces with MastiTickets, we are excited to offer a superior user experience. The Andhra Pradesh and Telangana region has an interesting entertainment consumption mix. It represents diverse entertainment preferences in terms of both genres and languages, thus offering us huge growth potential.”
What Should Be The Next Step
Though being the largest platform for online ticketing in India, BookMyShow has to plan it’s next steps very cautiously as Netflix and Amazon Prime Video is gaining popularity in India as more people are opting for it.