BookMyShow Reports 27% Profit Growth in FY24, Revenue Surges to ₹1,397 Crore

BookMyShow, India’s leading online ticketing platform, achieved significant financial milestones in the fiscal year ending March 2024. The company reported a net profit of ₹108.63 crore, a notable 27.6% increase from ₹85 crore in FY23. This growth was driven by a robust 43% rise in operating revenue, which reached ₹1,396.86 crore, solidifying its post-pandemic recovery trajectory.

Key Revenue Drivers

BookMyShow’s diverse revenue streams have been instrumental in its financial growth:

1. Online Ticketing:
   • Contributed ₹801.57 crore, accounting for 57.4% of total revenue.
   • Achieved a 23.8% year-on-year growth.
2. Live Events:
   • Generated ₹454.72 crore, making up 32% of the total revenue.
   • Witnessed a remarkable 91.5% surge compared to the previous fiscal year.
3. Auxiliary Revenue Streams:
   • Earnings from advertising, marketing, food and beverage sales, and software totaled ₹140.57 crore.
   • Financial gains and interest contributed an additional ₹33.28 crore.

Financial Highlights

• Total Revenue: Including all streams, revenue stood at ₹1,430.14 crore in FY24.
• Profitability by Segment:
  • Online ticketing yielded a profit of ₹258.65 crore.
  • Auxiliary streams contributed ₹84.13 crore in profits.
  • The live events segment, however, reported a loss of ₹137.99 crore.

Escalating Operational Costs

BookMyShow’s operational expenses surged by 40% in FY24, reaching ₹1,319.88 crore. Key contributors to this increase include:

• Artist Fees: Jumped by 103.3% to ₹211.32 crore.
• Production Costs: Rose by 95% to ₹233.49 crore.
• Revenue Sharing with Cinema Owners: Amounted to ₹323.03 crore.

BookMyShow: Pioneering Online Ticketing

Founded in 1999 by Ashish Hemrajani, Parikshit Dhar, and Rajesh Balpande, BookMyShow has become synonymous with online ticketing for movies and events in India. With a presence across 17 subsidiaries and two joint ventures, the platform continues to innovate and expand its offerings.

Future Outlook

The growth in both online ticketing and live events signals a positive trend for BookMyShow as consumer confidence in entertainment continues to rebound post-pandemic. While the live events segment reported losses due to high operational expenses, its revenue growth underscores its potential for profitability with optimized cost management.

BookMyShow’s performance in FY24 not only reflects its resilience but also positions it as a leader in India’s entertainment and events industry, paving the way for continued growth and innovation in the coming years.