Online ticketing startup Townscript eyes international expansion; to tap Dubai, Hong Kong markets
In February last year, BookMyShow (BMS) had acquired 75 per cent stake in Pune-based Townscript for an undisclosed amount. After the investment from BMS, we have seen 200 per cent growth in number of events organised in India. Ticket sales and revenues have grown 110 per cent, Sharma told PTI. He, however, declined to comment on the financial numbers.
Online ticketing startup Townscript said it expects international markets to contribute 15-20 per cent of its revenues by the end of this fiscal as it expands into regions like Hong Kong, Singapore and Dubai. Founded in 2014 by Sachin Sharma and Sanchit Malik, Townscript is a DIY (do it yourself) event registration and ticketing platform that allows users to set up events like workshops, conferences and exhibitions.
In February last year, BookMyShow (BMS) had acquired 75 per cent stake in Pune-based Townscript for an undisclosed amount. "After the investment from BMS, we have seen 200 per cent growth in number of events organised in India. Ticket sales and revenues have grown 110 per cent," Sharma told PTI. He, however, declined to comment on the financial numbers.
Sharma said the company has already expanded its offerings to Indonesia using BMS' operations as the base there. "Since ours' is a DIY platform, we are already seeing a number of people from overseas use our platform to set up events... We are also studying markets like Dubai, Singapore and Hong Kong and in the next 4-6 months, we will look at a physical presence in these markets," he said.
Co-founder Sanchit Malik said the company gets about 5 per cent of its revenues from international events. "By the end of the fiscal, we expect about 6-7 per cent of the events on our platform to be overseas and about 15-20 per cent of the revenues to be from international markets," he added.
Malik said Townscript is focussing not just on adding local capabilities but also building analytics and promotional tools to help its users. The company is also witnessing strong traction from tier II cities in India.
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"Our growth has been driven by demand from tier I cities but we are seeing strong traction from smaller cities as well, places like Jaipur, Lucknow, Chandigarh and Kochi...Tier I cities used to be about 90 per cent but now tier II cities contribute about one-third of our revenues," he said.
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