BookMyShow Dances to a New Tune with Nfusion
Buy will form the tech backbone of co’s music curation & selection service
Mumbai: Online entertainment ticketing company BookMyShow is all set to sing a new tune. The Mumbai-based firm has acquired audio and video on-demand platform Nfusion for an undisclosed amount in an all-cash deal. The acquisition will see BookMyShow leverage Nfusion’s tech stack to build its audio entertainment vertical. BookMyShow has forayed into audio entertainment with Jukebox, which offers users free music downloads through music credits which are earned at the time of booking movie tickets. The company is looking to widen the offering to include curation and selection of music and audio content and Nfusion will form the technology backbone for the new business line. Nfusion’s scalable tech solutions, especially CMS (content ma- nagement system), will be key to BookMyShow’s vision as far as audio entertainment goes. “We have already established our video-content vertical and are now excited to foray into audio entertainment through our offering ‘Jukebox’. The Nfusion team has brought with them immense experience, innovation capability as well as expertise in building and managing scalable tech solutions. With them and our music label partners, we look forward to offering the widest variety and possibly the best curated audio content to our users,” said Parikshit Dar, director, BookMyShow.
Currently, Jukebox offers over 1.5 million songs to choose from and has witnessed a monthly growth of 300% since its launch in early June. Founded in 2009 by Shoaib GM Khan, Sivagurunathan S and Prabhakar Reddy as a high-definition video-on-demand platform, Nfusion allowed users to stream videos online. As part of the deal, Shoaib and Sivagurunathan will join BookMyShow with Shoaib heading Nfusion while Sivagurunathan will lead the architecture and development operation teams at BookMyShow. Through Jukebox, BookMyShow aims to cover all facets of entertainment offerings under its umbrella and is also looking at content creation around the vertical in the long term. “Everything that we offer under audio entertainment will be under Jukebox. The larger offering here is in how users are consuming music so the curation of music that we offer is where we expect a lot of differentiation to be seen. We are primarily looking to aid discovery,” Aditya Kuber, associate VP - audio entertainment at BookMyShow told ET.
A DIFFERENT BEAT