KKR eyes $50M BookMyShow stake as live-events unit turns profitable
KKR is set to acquire a 6% minority stake in BookMyShow for about $50 million. The platform’s BookMyShow Live business posted a Rs 5.5 crore profit in 2025, with live-event revenue topping Rs 750 crore, while online ticketing generated nearly Rs 910 crore.
What happened
BookMyShow Live turned profitable in 2025 as live-event revenue exceeded Rs 750 crore. KKR plans a 6% stake purchase for about $50 million, while Reliance holds
Key facts
- KKR to acquire a 6% minority stake in BookMyShow for about $50 million
- BookMyShow Live posted Rs 5.5 crore profit in 2025
- Live events generated over Rs 750 crore revenue in 2025
- Online ticketing generated nearly Rs 910 crore revenue
- Reliance Industries owns 40% of Big Tree Entertainment
- Event equipment transport was completed in 18 hours versus a normal 36-hour drive
- BookMyShow conducted two GPS-tracked trial runs
- Only about 10% of 100 live events make money, according to Atomx
Why this matters
The minority investment adds institutional capital alongside Reliance’s existing ownership, potentially strengthening BookMyShow’s ability to pursue partnerships, content rights and live-entertainment expansion.
What to watch
- Completion terms of the KKR transaction, including whether the $50 million is primary growth capital or a secondary share purchase.
- BookMyShow Live's FY26 revenue growth, EBITDA/profit conversion and working-capital needs after artist advances and event deposits.
- Scale and sell-through of major concert, sports and festival properties; particularly the share of events that are profitable after marketing and artist costs.
- Any additional investment, distribution agreement or operational integration involving Reliance, Jio, JioStar or Reliance Retail.
- Changes in take rates, convenience fees, sponsorship revenue and premium-ticket mix in the core ticketing platform.
- Competitive moves from Zomato District/Paytm Insider, venue operators, global promoters and direct-to-fan ticketing channels.
- Consumer discretionary-spending trends and any regulatory scrutiny over ticket pricing, resale, fees or event safety.
- Use KKR capital to lock in multi-city event calendars, exclusive artist relationships and venue access before competitors can bid up supply.
- Bundle event discovery, ticketing, telecom offers, streaming content and loyalty benefits with Reliance/Jio ecosystem partners to reduce customer-acquisition costs.
- Expand higher-margin ancillary revenue including sponsorships, premium hospitality, fan experiences, merchandise, travel and event insurance.
- Pursue selective regional expansion and acquisitions of local promoters or venue-management capabilities rather than relying solely on third-party event organizers.
- Formalize governance, financial reporting and unit-level profitability metrics consistent with future institutional fundraising or IPO readiness.