BookMyShow sales soar 274% YoY in FY22, inching closer to pre-COVID levels
In FY22, BookMyShow's total revenue increased 2.7 times
3 March 2023
In FY22, BookMyShow's total revenue increased 2.7 times from INR 108.8 Cr in FY21 to INR 302.9 Cr.
In FY22, INR 218.5 Cr of the total INR 277 Cr in sales was generated from online ticket bookings.
In FY22, the internet portal managed to decrease its losses to INR 92.2 Cr from INR 222.7 Cr in FY21.
BookMyShow directly competes against Vijay Shekhar Sharma’s Paytm, which also allows users to book movie and events tickets through its app.
BookMyShow, the online ticketing portal backed by Reliance, witnessed a 2.7x growth in its total revenue to INR 302.9 Cr in the financial year that ended on March 31, 2022, compared to the COVID-affected FY21. However, its revenue from operations, which skyrocketed 274% to INR 277 Cr during the period under review, was still 61% lower than the pre-COVID levels of INR 701.4 Cr in FY20. The gradual resumption of film releases in theatres and live sports events with spectators contributed to the rise in FY22 revenue, but it was still below the pre-pandemic levels.
BookMyShow offers online booking of movie tickets from popular multiplexes such as PVR and INOX. The platform also allows customers to book tickets for sporting events like IPL and ISL, as well as music concerts and stand-up events. The portal's main source of revenue is convenience fees for online ticket booking. Additionally, the company generates revenue through turnkey ticketing solutions for events, sale of advertisement space, and food and beverage sales.
In FY22, BookMyShow earned a total revenue of INR 277 Cr, out of which INR 218.5 Cr was generated from online ticket booking. Additionally, it earned INR 8.9 Cr from turnkey ticketing solutions and INR 24.6 Cr from live events. In comparison, the portal earned INR 34.6 Cr from online ticketing and INR 13.9 Cr from live events in FY21.
BookMyShow earned INR 378.6 Cr from online tickets, INR 40.1 Cr from turnkey ticketing solutions, and INR 182.1 Cr from live events in FY20, before the pandemic. However, in FY22, the company's total expenses increased by 20% to INR 395.1 Cr from the previous fiscal year.
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BookMyShow's expenses saw a slight increase which was mainly due to the revenue share paid to movie theaters, with INR 119.7 Cr paid in FY22, a 403% increase from the previous year. Despite this, the online ticketing platform managed to reduce its losses to INR 92.2 Cr in FY22, compared to INR 222.7 Cr in FY21, thanks to a rise in revenue and almost flat expenditure. In FY20, BookMyShow had reported a loss of INR 211.5 Cr.
Despite facing the second and third COVID waves in 2021, BookMyShow's FY22 revenue remained strong, indicating a potentially strong FY23 performance. Founded in 1999, BookMyShow has evolved from a purely online ticketing platform to end-to-end management of live entertainment events, competing directly against Paytm.