RESOLVING THE LEDGER
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Global investment firm KKR has invested in one of India’s largest entertainment companies, BookMyShow . Under the new agreement, funds managed by KKR have acquired a minority stake in BookMyShow, providing support for the live entertainment company’s next phase of growth as it scales and deepens its offerings in India. Over the past few years, BookMyShow Live , the live entertainment experiential division of BookMyShow, has brought Lollapalooza India, U2’s The Joshua Tree Tour, Coldplay, Ed Sheeran, Travis Scott, Linkin’ Park, John Mayer, Guns N’ Roses, Post Malone, Def Leppard and Justin Bieber to the Indian market.
“BookMyShow has been a pioneer in delivering high-quality entertainment experiences in India. We are pleased to support BookMyShow as it continues to lead the next phase of growth in India’s out-of-home entertainment sector,” said KKR partner and head of India private equity Akshay Tanna in a release. “We believe BookMyShow will play an important role in advancing India’s ambition to become a global entertainment hub and a premier destination for leading artists and acts from around the world.”
KKR’s “global perspective, deep expertise and strong understanding of consumer businesses will be invaluable as we enter the next phase of our journey,” said BookMyShow founder and CEO Ashish Hemrajani in a release. “The timing of this investment is particularly exciting, as we have significantly expanded our presence across the live entertainment landscape and are seeing the opportunity for India’s entertainment economy grow like never before.”
BookMyShow adds to KKR’s global portfolio of media and entertainment investments, including Internet Brands, ByteDance, Chord Music Partners, Epic Games, PlayOnSports, OverDrive, Superstruct and Simon & Schuster. BookMyShows also counts Network18 (part of Reliance Industries Limited), Accel Partners, Elevation Capital, Stripes Group, and TPG as longstanding investors. — Taylor Mims
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