BookMyShow has cemented its interest in the college entertainment market by making an undisclosed investment in TribeVibe, a college entertainment company.
The Mumbai-headquartered ticketing and entertainment company will target students and aim to bridge the gap between this particular young consumer base and brands. The investment will also enable BookMyShow to scout for those looking to break into the industry.
TribeVibe was founded in 2019 and was launched to revolutionise the college festival experience and engage with the younger generations. The platform allows for complete artist management, provides end-to-end assistance and allows access to some of India’s biggest artists for collaborations, partnerships and college events.
Since its inception, TribeVibe has curated over 600 college events, entertaining more than three million students. TribeVibe also boasts a catalogue of artists across cinema, comedy as well as independent music artists across a variety of genres including electronic dance music (EDM) and DJs.
In August 2021, TribeVibe launched the digital Fresher’s Festival in partnership with Sunburn Campus, a college version of Sunburn Festival, and Bollyboom, an event that celebrates Bollywood music. It also recently introduced the ‘Tribe Campus Program’, an ambassador program that aims to bring on board over 1,000 young ambassadors from more than 300 colleges. The program will enable young people to gain hands-on experience in event management, digital initiatives and brand collaborations.
Ashish Hemrajani (pictured), founder and chief executive of 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.”
Shoven Shah, founder and chief executive of TribeVibe, added: “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 three 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.”