BookMyShow revenue soars 43% to Rs 1,396 Crore in FY24

Online ticketing platform BookMyShow has achieved remarkable financial growth, with revenue reaching Rs 1,396 crore in FY24—a significant leap from Rs 975.51 crore in FY23 and Rs 277 crore in FY22, according to a report by Entrackr. This represents a year-on-year revenue growth of 43.2 per cent for the fiscal year ending March 2024.

The company’s core revenue sources included online ticketing, live events, and advertising. Online ticketing contributed the lion’s share, generating Rs 801.57 crore, while live events added Rs 140.57 crore. Revenue from advertising, marketing, food and beverage sales, and vouchers amounted to Rs 140.57 crore. Additionally, the platform earned Rs 33.28 crore from interest and financial asset gains.

While the company posted a robust profit of Rs 258.65 crore from online ticketing and Rs 84.13 crore from advertising, its live events vertical recorded a loss of Rs 137.99 crore. Despite these losses, the platform’s overall growth trajectory was bolstered by its core ticketing business and advertising revenues.

The company’s expenses also surged in FY24, growing from Rs 940.86 crore in FY23 to Rs 1,319.88 crore. Major costs included:

• Revenue sharing: Rs 323.03 crore
• Production expenses: Rs 233.49 crore
• Artist fees: Rs 211.32 crore
• Advertisement and promotions: Rs 78.97 crore
• Payment gateway charges: Rs 49.57 crore

This rise in operational costs reflects its expanding portfolio and investment in live events and marketing. Despite impressive revenue figures, the platform reported a steep decline in operating cash flow, which fell by 85.3 per cent to Rs 33.54 crore in FY24. Furthermore, the company’s outstanding losses stood at Rs 751.42 crore, highlighting ongoing financial challenges.

The platforms' exponential growth in revenue underscores its dominant position in India’s entertainment and events ticketing market. However, its reliance on live events, which incurred significant losses, and the decline in cash flow present challenges that the company must address to sustain profitability.

The platform’s ability to balance its revenue growth with operational efficiency and cost management will be crucial in the coming years. For now, the company’s core online ticketing and advertising business remains its strongest pillar.