BookMyShow acquires video platform Nfusion
New Delhi: Online entertainment ticketing company BookMyShow on Tuesday said it has acquired video-on- demand platform Nfusion for an undisclosed amount, a move that will help the Mumbai-based firm enhance its audio streaming offerings.
Without disclosing the financial details of the transaction, BookMyShow said it acquired Nfusion in an all-cash deal. “We are excited to foray into audio entertainment through our offering ‘Jukebox’ (its online audio entertainment offering), which uses Nfusion’s technology,” BookMyShow director Parikshit Dar told PTI.
Nfusion was set up in the Middle East in 2009 by Shoaib G.M. Khan, Sivagurunathan S. and Prabhakar Reddy. The HD video- on-demand platform allowed users to stream videos online. Dar said that strengthening the audio offerings is part of BookMyShow ’s efforts to become a complete entertainment destination.
“We had a library of 1.5 million songs and are now making available curated music that will help listeners discover many more tracks,” he said. The Nfusion team will be headed by Khan, while Sivagurunathan will lead the architecture, development and operations teams at BookMyShow. To lead the vertical, BookMyShow has appointed Aditya Kuber as associate vice-president – audio entertainment. He will report to BookMyShow CEO and founder Ashish Hemrajani.
Kuber will play an instrumental role in driving partnerships with music labels and distributors, creating exclusive audio content for BookMyShow users, and product marketing. In 2013, BookMyShow had acquired Chennai-based online ticketing player TicketGreen. It then acquired a majority stake in Bengaluru-based social media analytics start-up Eventifier in 2015 and Chennai-based fan relationship management (FRM) solutions provider, Fantain Sports in 2016.
In 2017, BookMyShow acquired Hyderabad-based online movie ticketing platform MastiTickets, invested in Pune-based DIY platform Townscript and also acquired Mumbai-based local food and restaurant recommendation engine, Burrp.