NEW: BookMyShow is an outlier and its comeback after the pandemic sets it apart from other late-stage firms. BMS revenue nosedived to Rs 74 Cr in FY21 but it bounced-back with a staggering 13X growth in last two fiscals. BMS also posted profit in FY23.
A 🧵 on its FY23 numbers.
A 🧵 on its FY23 numbers.
BookMyShow’s revenue from operations surged 3.5X to Rs 976 crore in FY23 from Rs 277 crore in FY22. Income from ticket booking formed 66% of the total operating revenue which surged 2.85X to Rs 648 Cr in FY23 while income from events spiked 9.5X to Rs 237 Cr.
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Revenue share—the commissions paid to cinema owners—was the largest cost center for BookMyShow, accounting for 31.3% of the total expenditure. In line with scale, this cost grew 2.5X to Rs 295 Cr in FY23 while artist fees blew up tenfold to Rs 104 Cr in FY23.
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The three-fold scale and effective cost management helped BookMyShow register its first-ever profit during FY23. It posted Rs 85 Cr profit in FY23 as compared to a loss of Rs 92 crore in FY22. For more deets, read @Kunal_POV and @upadhyay_harsh1 #Fintrackr story:
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