KKR has agreed to acquire a minority stake in Indian ticketing and live entertainment platform BookMyShow, backing the company’s expansion as demand for concerts and other out-of-home entertainment grows in the country.
The transaction remains subject to customary regulatory approvals, according to a company statement on Wednesday (Aug. 19).
Founded in 2007, BookMyShow has expanded beyond movie ticketing into a broader entertainment platform spanning movies, live entertainment and experiences. Its BookMyShow Live division operates across the live entertainment value chain, including talent and intellectual-property acquisition, production, promotion, partnerships and audience development.
KKR’s investment will support BookMyShow’s efforts to scale its live entertainment operations and expand its full-stack offering across India, according to the companies.
The investment comes as India’s large and relatively young consumer base and rising discretionary spending fuel demand for international artists, concerts and other premium entertainment experiences. KKR said it expects BookMyShow to help India become a global entertainment hub.
“BookMyShow has been a pioneer in delivering high-quality entertainment experiences in India,” Akshay Tanna, partner and head of India private equity at KKR, said in a statement. “We believe BookMyShow will play an important role in advancing India’s ambition to become a global entertainment hub.”
For BookMyShow, the investment comes after years of developing its live entertainment business alongside its core ticketing platform. The company said BookMyShow Live has built capabilities to bring increasingly ambitious productions and artists to Indian audiences while helping develop the broader live entertainment ecosystem.
Founder and CEO Ashish Hemrajani said KKR’s global perspective and consumer expertise will support the company’s next phase of growth.
BookMyShow’s existing investors include Network18, which is part of Reliance Industries, Accel Partners, Elevation Capital, Stripes Group and TPG.
The deal also adds BookMyShow to KKR’s global media and entertainment portfolio, which includes investments in businesses such as Internet Brands, ByteDance, Epic Games, Superstruct and Simon & Schuster.
Avendus Capital advised BookMyShow on the transaction, while Trilegal acted as legal adviser.
