BookMyShow's parent company reports consolidated rev of Rs 701.4 cr in FY20

Bigtree Entertainment, the company that owns and operates online ticket booking platform BookMyShow, has reported consolidated revenue of Rs 701.4 crore for the fiscal ended 31st March 2020 as against Rs 594.19 crore in the previous fiscal.

According to financial data accessed by business intelligence platform Tofler, total expenses jumped to Rs 950.72 crore compared to Rs 733.55 crore in FY19. The company's net loss ballooned to Rs 211.55 crore compared to Rs 115.18 crore.

The consolidated numbers include the financials of subsidiary BookMyShow Live Private Limited, which was demerged from the parent entity in 2018-19 and houses their live events business. This business reported revenues of Rs. 88 crore and losses of Rs 48 crore on a standalone basis.

“BookMyShow’s strategic investments in live entertainment started yielding results with a stronger topline in FY20 even as we continued to drive deeper penetration across both movies and live events amongst tier 2 and beyond towns. An absolute black swan event with a long-drawn impact, the Covid-19 pandemic hit sectors the world over, especially the entertainment industry having impacted the business since Q4FY20," a company spokesperson said.

"BookMyShow is optimistic that recovery in FY21 while slow, will make a staggered comeback, even as we continue to make long-term investments in live entertainment to build and sustain both, the virtual and out-of-home entertainment ecosystem. Having restructured the organisation and reduced overheads to ensure a leaner and fitter company for FY21 and beyond, we continue to work towards improved efficiency on the back of an enhanced engineering product capability to deliver the best-in-class customer experience for millions of our loyal users.”

Income from online ticket booking jumped to Rs 378.6 crore compared to Rs 331.56 crore. Income from live events rose to Rs 182.15 crore from Rs 105.10 crore. The company earned Rs 40.14 crore from turnkey ticketing solutions which is a drop compared to Rs 51.85 crore in FY19.

The company's income from advertisement and marketing declined to Rs 16.64 crore from Rs 22.8 crore. Ticketing revenue contributed Rs 24.66 crore as against Rs 40.86 crore. Income from breakage increased to Rs 25 crore from Rs 20.31 crore. Income from the sale of food and beverages rose to Rs 12.94 crore from Rs 8.04 crore.

The company earned 72.3% of its total revenue from online ticket sales and 6.74% from turnkey ticketing solutions.

Big Tree Entertainment operates in a single business segment and is engaged in the business of providing turnkey ticketing services to its consumers through theatres, events, etc., including cash collections, internet-based ticketing, kiosk ticketing, etc. It operates through an entertainment-ticketing website namely, bookmyshow.com.