KKR has agreed to acquire a minority stake in BookMyShow, one of India’s leading entertainment platforms, as the investment firm backs the company’s expansion across live entertainment and its broader full-stack entertainment offering. The investment will be made through funds managed by KKR. Financial terms and the size of the minority stake were not disclosed.
KKR’s capital will support BookMyShow’s next phase of growth, particularly its ambitions in live entertainment as demand for large-scale concerts, performances and other out-of-home experiences increases across India.
BookMyShow was launched in 2007 and is owned and operated by Bigtree Entertainment, which was founded in 1999. The business has evolved from an online movie-ticketing platform into a broader entertainment company spanning movies, live events and experiences.
A significant part of that expansion has been driven by BookMyShow Live, the company’s live entertainment division.
BookMyShow Live operates across the entertainment value chain, including talent and intellectual property acquisition, production, promotion, partnerships and audience development.
The division has helped bring major international artists and entertainment properties to India, including Coldplay, Ed Sheeran, Travis Scott, Linkin Park, Guns N’ Roses, Justin Bieber, U2’s The Joshua Tree Tour and Post Malone.
Its portfolio has also included Lollapalooza India, the NBA’s debut games in India, Disney’s Aladdin and Cirque du Soleil BAZZAR.
BookMyShow now operates across more than 700 towns and cities in India and supports movie ticketing across more than 7,000 screens.
The company has also expanded internationally with operations in Singapore, Indonesia, Malaysia, the UAE and Sri Lanka.
KKR sees additional growth potential in India’s entertainment industry as rising discretionary spending, a large and relatively young consumer population and increasing demand for global-quality entertainment experiences reshape the market.
The investment firm believes BookMyShow’s combination of consumer reach, technology infrastructure and entertainment capabilities positions the company to capitalize on the continued maturation of India’s live entertainment sector.
Beyond physical events, BookMyShow has expanded its digital entertainment operations through BookMyShow Stream, its transactional video-on-demand platform.
The company has also developed technology such as mobile ticketing and Movie Mode, along with an organic movie reviews and ratings platform.
BookMyShow’s existing investors include Network18, part of Reliance Industries, along with Accel Partners, Elevation Capital, Stripes Group and TPG.
The transaction represents KKR’s latest private equity investment in India. Its other investments in the country have included Medicover India, Lighthouse Learning, Vini Cosmetics, Healthcare Global Enterprises, Darwinbox and Rebel Foods.
BookMyShow also expands KKR’s global media and entertainment portfolio, which includes investments in Internet Brands, ByteDance, Chord Music Partners, Epic Games, PlayOnSports, OverDrive, Superstruct and Simon & Schuster.
The transaction remains subject to customary regulatory approvals.
Avendus Capital served as exclusive financial advisor to BookMyShow, while Trilegal served as legal advisor.
KEY QUOTES:
“BookMyShow has been a pioneer in delivering high-quality entertainment experiences in India. We are pleased to support BookMyShow as it continues to lead the next phase of growth in India’s out-of-home entertainment sector. We believe BookMyShow will play an important role in advancing India’s ambition to become a global entertainment hub and a premier destination for leading artists and acts from around the world. We look forward to combining our deep local knowledge with our global investment experience and network to support BookMyShow in its next stage of transformation and further elevate the world-class experiences it delivers to audiences across India.”
Akshay Tanna, Partner And Head Of India Private Equity At KKR
“We are delighted to welcome KKR as an investor in BookMyShow. Their global perspective, deep expertise and strong understanding of consumer businesses will be invaluable as we enter the next phase of our journey. The timing of this investment is particularly exciting, as we have significantly expanded our presence across the live entertainment landscape and are seeing the opportunity for India’s entertainment economy grow like never before. We are also grateful to our longstanding investors Network18 (part of Reliance Industries Limited), Accel Partners, Elevation Capital, Stripes Group, and TPG for their continued support.”
Ashish Hemrajani, Founder And CEO Of BookMyShow
