Industry News

Townscript to expand after successful year

Online ticketing startup Townscript, which was acquired by Indian movie ticketing firm BookMyShow last year, has unveiled plans for international expansion after a successful year.

The e-commerce giant bought a 75-per-cent stake in Pune-based Townscript for an undisclosed amount in February 2017.

Since the acquisition, Townscript has seen a 200-per-cent growth in the number of events organised in India, with ticket sales and revenues jumping 110 per cent.

Townscript, which was founded in 2014 by Sachin Sharma and Sanchit Malik, targets the registration and ticketing needs of small and medium scale events such as workshops, conferences, exhibitions, endurance events like marathons among others.

“Since ours is a DIY platform, we are already seeing a number of people from overseas use our platform to set up events,” Sharma said, according to Zee Business.

“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.”

According to Zee Business, co-founder Sanchit Malik said the company gains approximately 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.”

Image: Pompi