Online entertainment ticketing company, BookMyShow has acquired Nfusion for an all-cash deal. With this acquisition, the company wants to extend its audio entertainment offerings to its users.
Founded in 2009 by G.M. Khan, Sivagurunathan S and Prabhakar Reddy Nfusion is an HD video-on-demand platform which allows users to stream videos online. The company has the scalable tech solutions, which will be key to the success of BookMyShow’s foray into audio entertainment.
Commenting on the deal, Parikshit Dar, Director, BookMyShow said, “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.”
The company already offers free music downloads to its users through Jukebox. Whenever, any users book movie tickets on BookMyShow, they get the reward as the music credits which can be redeemed to download their favourite songs on the Android or iOS app.
Currently, BookMyShow offers over 1.5 million songs to choose from and has already been witnessing 300% growth m-o-m in the number of downloads.
To lead this division, BookMyShow has appointed Aditya Kuber as Associate Vice President – Audio Entertainment. He will report to BookMyShow CEO and Founder, Ashish Hemrajani. While the Nfusion team will be headed by Shoaib, Sivagurunathan will lead the Architecture and DevOps teams at BookMyShow.
Aditya brings with him over 17 years of experience and has a demonstrated history of working across media, publishing, digital, and advertising. His role will be instrumental in driving partnerships with music labels and distributors, creating exclusive audio content for BookMyShow users, and product marketing.