Online ticketing company BookMyShow has acquired Nfusion, a digital entertainment company, for an undisclosed amount in an all-cash transaction. The acquisition is part of BookMyShow’s plans to expand the reach of its operations beyond simple online movie ticketing.
Nfusion was established in West Asia in 2009 by Shoaib GM Khan, Sivagurunathan S, and Prabhakar Reddy as an HD video-on-demand platform, which allowed its users to stream videos online. BookMyShow will use scalable technology solutions from Nfusion, in particular CMS (Content Management System), for its foray into audio entertainment. The acquisition not only provides BookMyShow with a robust technology platform, but also an experienced team, which will boost BookMyShow’s audio entertainment offerings. While the Nfusion team will be led by Shoaib, Sivagurunathan will lead the architecture and development teams at BookMyShow.
Parikshit Dar, Director of BookMyShow, said: âWe have already established our video content vertical and are now excited to enter audio entertainment with our ‘Jukebox’ offering. The Nfusion team brought with it immense experience, capacity for innovation as well as expertise in creating and managing scalable technological solutions. Together with them and our music label partners, we look forward to bringing the widest variety and perhaps the best audio content to our users.
Thanks to Jukebox, BookMyShow already offers free music downloads to its users. Whenever users book movie tickets on BookMyShow, they are rewarded with music credits which can be redeemed to download songs on the Android or iOS app. Currently, BookMyShow has over 1.5 million songs to choose from and has already seen 300% month-over-month growth in downloads.
To lead this vertical, BookMyShow has appointed Aditya Kuber as Associate Vice President for Audio Entertainment. He will report to BookMyShow, Managing Director and Founder, Ashish Hemrajani. Kuber will be responsible for driving partnerships with music labels and distributors, creating exclusive audio content for BookMyShow users and product marketing. He has over 17 years of experience and a proven track record in media, publishing, digital and advertising.
Previously, BookMyShow acquired Chennai-based online ticketing player TicketGreen in 2013. The company then acquired a controlling stake in Bengaluru-based social media analytics startup Eventifier in 2015 and management solutions provider. Chennai-based Fan Relations (FRM), Fantain Sports. Pvt Ltd in 2016. In 2017, BookMyShow acquired the Hyderabad-based MastiTickets online movie ticketing platform, invested in the Pune-based Townscript DIY platform, and also acquired the food recommendation engine and of local restaurants Burrp based in Mumbai.