BookMyShow, the Indian events and movie ticketing giant, has acquired video-on-demand platform NFusion as part of its strategy of becoming an entertainment platform.
The financial terms of the deal were not disclosed, although BookMyShow said it was an all-cash deal.
BookMyShow has been vocal about its desire to move away from its traditional movie ticketing business and focus more on events and content.
NFusion, founded in 2009 in the Middle East, is a high-definition video-on-demand platform that allows users to stream videos online. The online ticketing company will now have access to its acquired technology platform, while NFusion’s founders Shoaib G.M. Khan, Sivagurunathan S and Prabhakar Reddy will be joining the BookMyShow team.
NFusion’s content management will become one of the key ventures for BookMyShow’s transition into audio entertainment. Another new hire, Aditya Kuber, will focus on pushing music label and distributor partnerships, while also creating exclusive audio content for users.
Most recently, the firm launched a music service called Jukebox in which users can download songs by using music credits they earn after booking a cinema ticket. The service currently offers more than 1.5 million songs, according to Medianama website.
In June, BookMyShow also launched its new progressive web app (PWA) and quickly saw soaring mobile web figures. The PWA was developed to offer a more immersive app-like experience to consumers.