Within a month of acquiring food recommendation app Burrp, BookMyShow has acquired on-demand audio and video platform Nfusion for an undisclosed amount in an all-cash-deal. The online ticketing major will use Nfusion’s tech stack to build its audio entertainment vertical.
Floated by Shoaib G.M. Khan, Sivagurunathan S and Prabhakar Reddy, Nfusion is a video-on-demand platform to stream videos online. Post acquisition, Nfusion has now been integrated with the BookMyShow platform to launch Jukebox, where users can now download music.
The Mumbai-based company forayed into audio entertainment with Jukebox in June this year. The service allows users to download free music through music credits earned by them while booking movie and event tickets at BookMyShow’s platform.
Nfusion’s CMS (content management system) will be key to the success of BookMyShow’s foray into audio entertainment. Importantly, this is third acquisition made by BookMyShow this year. Earlier, it acquired Burrp and MastiTickets, a Hyderabad-based online ticketing platform.
Post acquisition, Nfusion team will be headed by Shoaib while Sivagurunathan will lead the Architecture and DevOps teams at Network18-backed company.
“We have already established our video content vertical and are now excited to foray into audio entertainment by 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,” said Parikshit Dar, Director, BookMyShow in a press statement.
The two months old service Jukebox has about 1.5 million songs to choose from. The Ashish Hemraji-led company claims to have a monthly growth of 300 per cent since its launch. Currently, Jukebox doesn’t generate any revenue, however if the service hits significant scale in the next 6-9 months, BookMyShow will try monetise it through advertising and sponsorship.