KKR Invests in BookMyShow as India’s Live Entertainment Market Expands
Global investment firm KKR has agreed to acquire a minority stake in BookMyShow, backing the Indian ticketing and entertainment company as it pushes deeper into concerts, festivals and large-scale live experiences.
The companies announced the agreement on August 19, saying funds managed by KKR will invest in BookMyShow to support the next phase of its live entertainment business. Financial terms were not disclosed in the official announcement.
Reuters, citing a person familiar with the transaction, reported that KKR is acquiring roughly 6% of BookMyShow for between $40 million and $50 million. That would imply a valuation of about $667 million to $833 million for the company. Those figures are source-based and have not been confirmed publicly by either KKR or BookMyShow.
BookMyShow began primarily as an online movie-ticketing platform but has expanded into a broader entertainment business covering films, streaming, concerts, sports and live experiences. Its BookMyShow Live division now operates across talent and intellectual-property acquisition, production, promotion, partnerships and audience development.
That expansion has brought some of the world’s biggest touring acts and entertainment properties to India. BookMyShow has been involved with Coldplay, Ed Sheeran, Travis Scott, Linkin Park, U2, Guns N’ Roses, Post Malone and Justin Bieber, as well as Lollapalooza India, Cirque du Soleil and NBA games.
The investment arrives as competition for India’s entertainment audience intensifies. Reuters reports that Walmart-owned Flipkart is preparing to enter events and ticketing, while Eternal’s District platform is also expanding in concerts, sports and other live experiences.
BookMyShow founder and CEO said the company has significantly expanded its position in live entertainment and is seeing India’s entertainment economy grow at an unprecedented pace. KKR’s Akshay Tanna said the firm sees BookMyShow playing a role in India’s ambition to become a larger global destination for major artists and entertainment productions.
