New Delhi: Online ticketing platform BookMyShow has announced its foray into international event ticketing with the musical stage production, The King and I, to be held at the West End theatre in London this summer.
The Bigtree Entertainment Pvt Ltd-owned site will also co-produce the critically acclaimed musical— its second co-production after Disney’s Broadway-style musical Aladdin that came to India this April.
“We’ve seen rapid growth in our movie business and now want to explore the canvas in the non-movie space," said Albert Almeida, chief operating officer, non-movies, at BookMyShow.
In an effort to transform itself from a ticketing player to a broader go-to destination for entertainment, BookMyShow has partnered with live theatre business firm Trafalgar Entertainment Group, an association that will not only allow Indians travelling to Europe this summer to enjoy the musical, but also ensure a lot of Trafalgar’s productions eventually travel to the subcontinent to reach a larger base of BookMyShow’s consumers here.
Almeida said their ticketing experience across genres has shown that more and more Indians are increasingly willing to pay for theatre experiences that provide value— these could range from sporting events like the Indian Premier League to stage productions like Aladdin and Mughal-e-Azam, besides travelling to other geographical markets to view them.
The international segment provides a further opportunity because 20-22 million Indians travel abroad during holiday seasons like the summer, Diwali and winter and attend events at holiday destinations.
Given that BookMyShow already has a relationship with users in India, it makes sense to allow them to book tickets outside the country. Further plans will be made based on the top 15-25 countries most Indians frequent and the big marquee events taking place in those locations in the months ahead. BookMyShow will base its ticket pricing on how it would have been rated on-ground in India converted to the currencies of those countries.
“We need to play a larger role in the entertainment ecosystem and make this sustainable," Almeida said. He expects the non-movie segment to contribute about 50% to BookMyShow’s overall revenue by 2020.
To be sure, the move makes sense for BookMyShow, which is looking to increase its presence in the entertainment value chain.
“This is an extension of the attempt to reach out to their (BookMyShow) urban, well-travelled target group for whom they are already a trusted brand," said an industry analyst on condition of anonymity. “It’s not just more lucrative given that people within India have spending limits, but also logically, as the buying behaviour of consumers increasingly moves online."