Missed out on Coldplay tickets? You’re not alone!
The moment Coldplay tickets went live, BookMyShow’s app and website crashed, leaving thousands of fans frustrated and ticketless. This isn’t the first time India's ticketing giant has buckled under pressure during major events. But it does beg the question: Is Bookmyshow struggling to keep up with demand, or is India’s entertainment ticketing market crying out for a fresh challenger?
Founded by Ashish Hemrajani in 2007, Bookmyshow has grown into India's dominant platform for booking tickets to movies, concerts, sports events, and more. With 50% of the event ticketing market and a staggering 78% of movie ticket sales, Bookmyshow is practically synonymous with entertainment in the country. Exclusive tie-ups with multiplexes, artists, and brands have created a formidable barrier to entry for any new player looking to disrupt their reign.
But as movies offer thinner margins and fewer growth opportunities, the event ticketing market—with its massive potential—remains a goldmine. According to an EY report, India's media and entertainment (M&E) sector is expected to grow by 10.2%, reaching INR 2.6 trillion by 2024, and at a 10% CAGR, hitting INR 3.1 trillion by 2026.
Sensing the opportunity, Zomato made a bold move with its ₹2048 crore acquisition of Paytm Insider, marking its entry into the "going out" space with Zomato’s Districts. This isn’t just another acquisition—it’s Zomato’s bid to reshape the ticketing landscape. With Districts, users can buy and resell tickets, creating a secondary market that offers more flexibility and solves the issue of sold-out events.
Can Deepinder Goyal pull it off again?
From turning Zomato into a food delivery giant to revolutionizing quick commerce with Blinkit, Goyal has a track record of transforming industries. His latest venture with Districts is a bold gamble that could redefine how Indians experience live entertainment. Will Goyal disrupt Bookmyshow’s reign, or is the giant too entrenched to fall?
Is Bookmyshow’s dominance truly in danger? Or does the market need even more competition to benefit customers and artists? Only time will tell, but one thing is certain—the race for India's entertainment ticketing crown is just heating up!
Let me know what you think??
#coldplay #bookmyshow #crashed #zomato
Legends Legends International Executive. Managing Director Spain and Portugal
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