BookMyShow’s live events revenue surged 66% to Rs 756 crore in FY25, nearly catching up with its Rs 828 crore ticketing business. But the going-out space is no longer uncontested. Eternal’s District is spending aggressively and has said its growth will come from taking market share from incumbents. Naman Pugalia, chief business officer, live events, BookMyShow, tells Anees Hussain how the company’s playbook remains unchanged. Excerpts:
Q. Are you seeing discounting pressure from new competition like District by Zomato?
A. Our decisions are not driven by others in this market. We are the only pure-play live entertainment promoter with this scale and diversity in India. We have sophisticated pricing processes. We have held our ground on pricing in most cases because we do the homework first. That said, the market remains early and promising. We deal with variables such as artists, venues, weather, geopolitics, cost structures and permissions. These are very much growth and investment years, though it is difficult to say how long this phase will last.
Q. Live events revenue is now closing in on ticketing revenue. What has driven that shift?
A. Multiple factors have converged, including investments in infrastructure and deeper engagement with artists and agencies. Genres and sub-genres have deepened, while geographic presence has widened. India is also increasingly becoming a repeatable stop on global touring calendars, with global acts performing here more consistently. We have close to 40,000 events on our platform today. Governments have also recognised benefits for food and beverage, retail, hospitality, travel and transport.
Q. How are you thinking about owning venues and infrastructure?
A. We have invested intentionally across the stack. We have India’s only VerTech and StageCo all-black steel stages, Layher systems for decking and scaffolding, mojo barricading and fencing, all now in-house. When you have enough volume, you start thinking about doing venues sustainably. Today, we build most shows ground up by converting open grounds and racecourses into concert-ready venues. Everything we build has to be multipurpose by design, because we operate across festivals, headline tours, theatricals, exhibitions, stand-up comedy and sports entertainment. While this impacts costs in the short term, it has long-term upside.
Q. A single-window clearance mechanism for events has been a long standing ask. Has there been progress?
A. The Central Government, through the information and broadcasting ministry, has articulated plans to streamline this. States have begun to step up. Maharashtra has also indicated plans. Today, a promoter deals with law and order, traffic, excise, tax, fire, and health and safety separately. It would help to have this in one place. We also have active MoUs with Assam, Telangana, Gujarat and Delhi, and more are in the works, to grow this industry.
Q. What does India need to become a top-five live entertainment market?
A. We see three opportunities. First, world-class multipurpose and plug-and-play venues. Second, streamlining permissions, which could be transposed from other industries. Third, building tourism footfall through live entertainment, the way Singapore and Abu Dhabi have done. To support these layers we require investment into talent, both exporting Indian talent and bringing international talent into India.
Q. How have owned IPs performed? Is international expansion on the cards?
A. Owned IPs are a key growth driver. Sunburn, active for 18 years, has expanded beyond a single festival into Arena, Campus and Academy bringing year-round engagement. Bandland is scaling in the rock and alternative space, Nykaaland has taken us into beauty and lifestyle. TribeVibe anchors the college circuit with hundreds of shows every year across more than 2,500 colleges. Lollapalooza India is in its fifth year as a licensed global format with C3. We are still working on new IPs.
We are also exploring global markets for our Indian IPs, starting with Sunburn.