How BookMyShow booked its spot at the top!
Everyone loves a good movie; whether it is a cute rom-com, or a spine-chilling horror movie, movies help us relax and take a trip into the world of fiction and drama for a couple of hours of our life. A similar such trip was experienced by Ashish Hemrajani, but his trip was to South Africa; a trip that changed his life. He was selling rugby tickets under a tree when he had his eureka moment and as soon as he went back to India, quit his job and at the age of 24, with his head office in his bedroom, started Bigtree Entertainment Pvt. Ltd. in 1999, his first internet venture. After persuading his friends, Parikshit Dar managed the technology department and Rajesh Balpande took over the finances. After getting funding for their company, they finally started their brand venture under the name Go for Ticketing but later changed it to India Ticketing before finally in 2002, calling it the name we know today, BookMyShow also known as BMS.
They faced their fair share of troubles in the beginning with unstable internet connections and even lack of facilities for internet banking. However, the fall of the dot com system gave rise to better internet facilities, net banking facilities and more. India also saw a rise in the number of movie theatres during this time. With this, it was time for them to come back with a bang, learning from the mistakes they made, approaching new investors and forming even better marketing strategies.
Breaking the queue
A pain area in the market was standing in long queues for movie tickets, which was knocked off with the advent of BookMyShow. Apart from their target audience the cinema theatre ecosystem also reaped the profits. The consumer experience became more seamless than ever.
Elevating market reach
BookMyShow focused its attention to reach the maximum of its target audience. The level-I of urban communities were accessible due to available amenities, however the challenge was to expedite disconnected clients belonging to level-2 and 3 of urban areas who don’t purposefully use smart phones. This was done by curating SMS-based interactions for them.
Concentrating on occasions
Keeping motion picture tickets as center of the business, BookMyShow looked for association with occasions like sports, plays, unique tours, stand-up comedies, dramas & activities happening around the city. This ensured a healthy balance of revenue streams.
Adapting to the change
The pandemic could have bought this business to a standstill. However, BookMyShow restructured to being an OTT platform with more than 600 curated movies and hence they were able to prevent a complete downfall.
BookMyShow market themselves either by print or initially by television ads as well as through campaigns and their social media presence. They keep up with new trends and stay relevant to their target audience.
BookMyShow is now the most significant platform in India for booking shows. They also have a charity initiative called BookASmile for providing entertainment for the less fortunate through donations, charity campaigns and a part of their revenue.
BookMyShow demonstrates how a small startup can sustain with just a few ideas, dedication, and learning from the past while constantly innovating, to reach the success most only imagine.
Read more about BookMyShow here:
https://www.marketingmind.in/success-story-of-bookmyshow-a-journey-full-of-ups-downs/ -Story of BookMyShow.
https://startuptalky.com/startup-story-bookmyshow/#book_my_show_business_model_revenue_model -Business and revenue models used by BookMyShow.