Entertainment

Ticketing Firm BookMyShow Raises Funding From Jungle Ventures, To Shift SEA HQ To S'pore

Indian entertainment ticketing company Bigtree Entertainment announced today an undisclosed investment from Singapore-based Jungle Ventures.

The funds will be pumped into the Southeast Asia arm of the firm’s subsidiary, BookMyShow, to help strengthen its technology operations and “grow its capabilities to cater to the rising entertainment demands in the Southeast Asian region”.

The investment will see BookMyShow SEA shifting its headquarters to Singapore.

Through this strategic move, BookMyShow SEA aims to expand its geographic footprint to become the “leading out-of-home entertainment platform for the region”.

BookMyShow is India’s largest entertainment ticketing platform, which sells movie tickets across 6,000 screens and provides end-to-end management for live entertainment events like music concerts, theatricals and sports games.

According to Crunchbase, BookMyShow has so far raised US$224.5 million in total.

However, this is the first external fund raise for its Southeast Asian business.

BookMyShow expanded to Indonesia in 2016, followed by Singapore and Malaysia in 2019.

In its Southeast Asia markets, the firm has been working with partners to distribute movies and execute live entertainment shows across music, sports and comedy.

Some acts that BookMyShow SEA has brought to the region include Guns N Roses, Katy Perry, Paramore, comedian Russel Peter, and music festival Invasion.

BookMyShow SEA also sealed a partnership with Grab in 2019 to provide movie ticket booking in the Grab app.

Kenneth Tan, CEO of BookMyShow SEA, said the out-of-home entertainment industry in Southeast Asia has “immense growth potential”.

With the investment from Jungle Ventures, Tan said the firm will “provide unparalleled entertainment experiences to the audiences in this region”.

Featured Image Credit: TechCircle

 

Subscribe to Vulcan Post Newsletter

Stay updated with our weekly curated news and updates.
 
Read more about our privacy policy here.