Producing your own Content
Event/entertainment ticketing firm BookMyShow is planning to bring down the share of movies to about a third of its revenues in the next 3-5 years, as it increases investments in live events and content business, which include platforms like Daily Social and Movie Nation. Movie ticket sales account for about 60-65% while the rest primarily comes from live events and digital advertisement.
BookMyShow is trying to move from just an ecommerce player to building a content play and compete with the likes of Netflix and Amazon Prime which are also investing heavily of content production. BookMyShow has launched a multi-channel network (MCN) on YouTube These platforms help it to acquire a new customers as well as increase the stickiness among existing customers.
Paytm has also recently identified movies as one of its next $1billion gross-sales category, as well as online travel. It is also reported that it is in talks to acquire a majority stake in event ticketing firm Insider.