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Big Tree Entertainment to expand beyond ticketing into content space
MUMBAI: Big Tree Entertainment, which owns online entertainment ticketing firm BookmyShow, aims to expand its business by venturing into the content space as well.
As per a report in the Economic Times, the Mumbai-based company is looking to expand beyond online movie and events ticketing, offering videos and information on actors and films.
Big Tree Entertainment co-founder Rajesh Balpande was quoted as saying, “We will now look to grow horizontally. We are just present in the ticket-buying experience in the entertainment life cycle, but there is a discovery side where we can be more relevant to consumers as well.”
For expansion into content, BookMyShow will initially introduce the content service on its website which could be spun out later. It is also planning to launch a recommendation engine based on user history, which will enable users to see events similar to those they frequent.
The company also plans to provide a ticketing platform that organisers of small events can use for a fee. Going forward, the company will look at hiring and acquisitions as it moves into these new segments.
The do-it-yourself ticketing platform for events like New Year parties is a key part of the expansion plan, states the report. Big Tree plans to charge a 5-7 per cent convenience fees on this service.
“We can provide these services for smaller events where organisers don’t need managed services but can set up ticketing, invites and gate entries on their own,” Balpande told ET.
BookmyShow claims around 15 million users, with 60 per cent of its traffic and nearly half the transactions coming from mobile internet. It raised Rs 150 crore (Rs 1.5 billion) in June this year, valuing the company at over Rs 1000 crore (Rs 15 billion). Investors in the company include SAIF Partners, Accel Partners and Network18 Media.