Zomato to focus on building its Live product; completes 40-50% of revenue target so far | The Financial Express

Zomato to focus on building its Live product; completes 40-50% of revenue target so far

Of the seven Zomaland, it has completed three events so far and is gearing up for another event -Feeding India. 

Zomato to focus on building its Live product; completes 40-50% of revenue target so far
While Zomaland is a subscription-based event designed for profit, Feeding India is a not-for-profit event.

Zomato Live – the events business of food-tech company Zomato has met 40-50% of its revenue target until now, Chaitanya Mathur, Global Head, Live, Zomato told BrandWagon Online. “Post the pandemic, the business has finally returned after more than two and a half years. The customer side demand has been really good. In fact, in the case of our restaurant side of the business, demand has gone up. We have sold out our tickets for three Zomaland of the seven,” Mathur added. 

According to the company, while Zomaland is a subscription-based event designed for profit, Feeding India is a not-for-profit event. The second event has been designed with an aim to address the issue of malnutrition and other health issues related to nutrition deficiency. “This is a call to action for the largest problem that our country has, which is nutrition in India, as one in every five children faces malnutrition. Not to mention, 50% of women are anaemic in our country,” he said. 

The company claims that the average ticket price for Zomaland ranges between Rs 500-800, while the average ticket price for Feeding India is between Rs 5,000-6,000. The cost of a ticket starts at Rs 3,000. With the event returning to full galore, Zomato too plans to roll out different versions of Zomaland. According to Mathur, it has been tough to put together the event, especially getting international singers. For its Feeding India concert, the company has signed up singers such as Post Malone, Anuv Jain, Ritviz, Zaeden, Ananya Birla, KING, Jonita Gandhi, and KSHMR. Besides, Zomaland has featured singers such as Dharun & The Band Misplaced, Brijesh Sarin, and Kasyap, among others.

The company plans to roll-out more intellectual properties which could be refined or new formats of Zomaland. “These IPs will be introduced either this fiscal year or next. We could look at, launching some of these at various campuses. Though this was part of the plan earlier, we could now look at it,” he said. The company which is left with four Zomaland (event), also plans to roll out an international format, however, Mathur added that by January, there will be a concrete plan around it. 

Also Read: SaaS-based firm SingleInterface plans its Southeast Asia expansion by the end of FY24

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First published on: 02-12-2022 at 08:29:00 am
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