Swiggy, one of India’s leading food and grocery delivery platforms, has announced its foray into the live events ticketing space with the launch of Swiggy Scenes. Integrated under its popular ‘Dineout’ offering, Swiggy Scenes enables users to book parties, live music, and other events at its partner restaurants. The move is set to position Swiggy as a competitor to established players like BookMyShow, TicketNew, and SkillBox in India’s growing entertainment ticketing market.
Rising competition in entertainment ticketing
This launch comes at a time when the online ticketing market is seeing heightened competition. Swiggy’s rival, Zomato, has already doubled down on its events business after acquiring Paytm’s events and ticketing arm for ₹2,048 crore in August. BookMyShow, a key player in this sector, has also reported impressive growth, with a 43% year-on-year increase in revenue for FY24, largely driven by a twofold rise in its live events segment.
A booming market opportunity
The Indian event and exhibition market is projected to grow significantly, with an estimated size of $5.23 billion in 2024. Industry sources predict this figure will rise to $7.80 billion by 2029, reflecting a compound annual growth rate (CAGR) of 8.31%. Swiggy’s entry into this lucrative market signals its ambition to diversify revenue streams and capitalize on India’s growing appetite for live events and entertainment.
Exclusive membership with ‘One BLCK’
In a parallel move, Swiggy has launched ‘One BLCK,’ an invite-only premium membership aimed at offering tailored services to high-value users. Priced at ₹299 for three months, this membership promises enhanced convenience and exclusive benefits. According to Swiggy, 80% of its existing members use multiple services on the platform and spend three times more than non-members. One BLCK is expected to further drive user engagement and loyalty by targeting premium customers.
Shaping India’s entertainment ecosystem
Swiggy’s ventures into live events ticketing and premium memberships highlight its strategy to build a multi-faceted platform catering to diverse consumer needs. These developments not only strengthen its market position but also contribute to the overall growth of India’s entertainment and hospitality sectors, fostering innovation and customer-centric services.
