BookMyShow Partners with TribeVibe; Forays into College Entertainment Experiences
by EVENTFAQS Bureau Marketing | April 20, 2022 | News
BookMyShow, India’s leading entertainment destination, has made an undisclosed investment for a majority stake in TribeVibe, the one-stop-solution for college festival entertainment.
Through this strategic investment, BookMyShow brings the hitherto unaddressed and unorganized market of college entertainment into its fold, targeting students and potential first jobbers at scale. With this, BookMyShow aims to bridge the gap between this young consumer base and brands that are looking to actively convert and monetise India’s new and upcoming workforce.
Having worked together as long-term partners across formats, BookMyShow’s investment will aid TribeVibe’s growth trajectory with a 4X increase in revenue targeted over the next one year. This partnership will enable a deepened engagement with India’s large and vibrant student community as also potential first jobbers which is an integral segment of entertainment seekers across the country.
TribeVibe also works closely with BookMyShow in aiding the planning and programming of large format events, tours & IPs involving Indian artists.
Ashish Hemrajani, Founder and CEO, BookMyShow said, “With our strategic investment in TribeVibe, we aim to serve the market of college entertainment and bring young students and potential first jobbers into our fold. Having built a strong brand value and outreach capabilities, TribeVibe brings forth an as-yet non-addressable market for BookMyShow and has enabled us to successfully tap into this promising category with an extremely high audience engagement. This further widens our audience base and strengthens our customer cohorts, especially for the new workforce of India. We will enable the extension of these capabilities to curate independent events for larger audiences using our well-entrenched artist network. Through this partnership, we will look to scale TribeVibe using our data analytics and in-depth consumer data as also expand the reach for brand partnerships that will be apt for this young audience cohort.”
Shoven Shah, Founder and CEO, TribeVibe, said, “By connecting consumers and brands on a common platform, TribeVibe has been rapidly growing its student community over the past three years engaging with over 3 million students. This overwhelming response is a testament to the massive demand this underserved market holds and the opportunity for an organised player like us to enable quality and compelling entertainment experiences for Indian colleges. We are excited to further our long-standing partnership with BookMyShow which is India’s ultimate holistic entertainment platform and take our proposition to the next level by leveraging their expertise, industry experience and proficiency even as we target a 4x increase in our growth over the next one year. Together, we aim to transform the long-tail of the student and potential first jobbers ecosystem in entertainment, enabling brands to reach the right audiences early on.”
BookMyShow aims to bridge the gap between this young consumer base and brands that are looking to actively convert and monetise India’s new and upcoming workforce.