Lecture Notes: BookMyShow's Journey and Challenges

Introduction

• The band aspired to play at the world's largest cricket stadium.
• Initially, it seemed like a bizarre idea but eventually led to the world's largest concert.
• The event provided an economic boost of approximately 700 crores to Ahmedabad over two days.

Challenges in Organizing Large Concerts

• Ticket Pricing and Bot Attacks:

  • Tickets were priced affordably, but bot attacks by secondary ticket sites created issues.
  • Legal complexities with seven departments investigating.

• Venue Selection:

  • Ahmedabad was chosen despite being unconventional for large concerts due to infrastructure and alcohol restrictions.
  • Collaboration with Gujarat Tourism and Cricket Association for venue access.

• Logistics and Execution:

  • Planning involved train and flight coordination due to limited infrastructure.
  • Protection of the stadium’s pitch during the concert required unique solutions.

Impact and Reception

• Concert contributed substantially to local economy:

  • Employment, hotel bookings, and travel saw significant increases.
  • GST impact was significant, with a calculated 72 crores.

• Charitable Initiatives:

  • Focus on making concerts accessible to a broader audience with lower ticket prices.

Market Dynamics and Trends

• Business Model Evolution:

  • Transition from a movie ticket platform to a major event organizer and promoter.
  • Expansion into non-movie events now comprises a significant portion of revenue.

• Artist Negotiations and Demands:

  • High-profile artists have specific demands to ensure show quality.
  • BookMyShow manages complex logistics for multiple concurrent shows.

Industry Challenges

• Event Infrastructure in India:

  • Lack of mid-sized venues limits artist growth.
  • Need for better public infrastructure to support events.

• Economic and Regulatory Environment:

  • Advocated for GST reduction to make events more viable.
  • Navigating legal complexities with foreign ticketing entities.

Conclusion

• BookMyShow's founder, Ashi Shim Rojani, advocates for resilience and adaptability.
• Emphasizes the importance of innovation and long-term vision in business.
• Looks towards air, water, and food sectors as future opportunities.