BookMyShow on Tuesday announced that it had acquired Hyderabad-based online ticketing platform MastiTickets for an undisclosed amount. As a part of the deal, MastiTickets will transfer all of its key assets, along with existing cinema partnerships, to BookMyShow.
MastiTickets was founded in late 2014 by Ravi Narla. As an online entertainment ticketing platform, it allows users to book tickets for movies through its website, mobile app and mobile site. The platform soon grew to establish a strong presence in Andhra Pradesh and Telangana, and currently works with over 120 cinemas. With this acquisition, BookMyShow aims to further consolidate its position and strengthen its footprint.
At the time of the acquisition, MastiTickets consisted of a nine-member team. On being asked about their future by YourStory, a BookMyShow spokesperson noted that they are evaluating MastiTickets' team right now, but intend to absorb as many as possible into the company. They noted, "We don’t see it as a problem, considering it’s a small team."
BookMyShow (Bigtree Entertainment Pvt. Ltd.) was founded in Mumbai in 1999 and launched in 2007 by Ashish Hemrajani. With a reach across 400 towns and cities in India, BookMyShow allows users to book tickets for movies, plays, sports and live events through its website, mobile app and mobile site.
Talking about the acquisition, Ashish, CEO and Co-Founder, BookMyShow, noted that they 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 said,
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.
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Ravi, CEO of MastiTickets, noted that this acquisition by BookMyShow was the next logical step for them and that they are excited about its prospects. He said,
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.
While this is BookMyShow's first acquisition in 2017, the company has acquired a few other startups in the past, such as Chennai-based online ticketing player TicketGreen in 2013. This was followed by the purchase of a majority stake in Bengaluru-based social media analytics startup Eventifier in 2015 and then the acquisition of Chennai-based fan relationship management (FRM) solutions provider Fantain Sports Pvt. Ltd. in 2016.
While BookMyShow is a leader in the ticket booking space in India, it may have to tread cautiously in 2017 as 'cord cutting' has gained popularity in the country, with more customers opting for home-based entertainment solutions like Netflix and the more recently launched Amazon Prime Video.