In what will widen its ambit of entertainment across formats, demographics and geographies, BookMyShow, India’s leading entertainment destination, has made an undisclosed investment for a majority stake in TribeVibe, the one-stop-solution for college festival entertainment.
Through this strategic investment, BookMyShow brings the hitherto unaddressed and unorganized market of college entertainment into its fold, targeting students and potential first jobbers at scale. With this, BookMyShow aims to bridge the gap between this young consumer base and brands that are looking to actively convert and monetise India’s new and upcoming workforce.
Having worked together as long-term partners across formats, BookMyShow’s investment will aid TribeVibe’s growth trajectory with a 4X increase in revenue targeted over the next one year. This partnership will enable a deepened engagement with India’s large and vibrant student community as also potential first jobbers which is an integral segment of entertainment seekers across the country.
Founded in 2019, TribeVibe was launched with an aim to revolutionise the college festival experience, having become the country’s largest platform for the college entertainment circuit in under 3 years. TribeVibe offers enhanced engagement with the younger Gen-Z, providing an opportunity to familiarise trend-setters early on, build brand loyalty and affinity for a younger audience bracket thus being able to convert them easily as their spending power increases over time. The platform enables complete artist management providing end-to-end assistance and access to India’s best and most loved artists for collaborations, partnerships and production of small and large-scale college events and experiences in India across formats and genres.
TribeVibe has successfully curated and executed 600+ college events including over 200 Sunburn Campus shows, both on-ground and virtually, with footfalls of more than 3 million students. Bringing together a powerful artist base of over 175 top-tier artists across cinema, independent (Indie) and other music, comedy, DJs and EDM, TribeVibe works in a partnership format with over 300 colleges across India. The firm has successfully created a niche for itself by catering to the needs of Indian colleges that are looking to extend a holistic experience for the student community. In August 2021, TribeVibe launched the digital Fresher’s Festival in partnership with Sunburn Campus and Bollyboom which saw over 1 lakh students across 400+ colleges participate.
TribeVibe has partnered with several artists across genres including the best of Hindi and Indian music such as Amit Trivedi, Benny Dayal, Darshan Raval, Diljit Dosanjh, Jubin Nautiyal, Mohit Chauhan, Salim-Sulaiman, Shankar-Ehsaan-Loy and Vishal-Shekhar; Indie artists like Anuv Jain, Indian Ocean, Prateek Kuhad, Sanam (musical band) and The Yellow Diary. Beyond music, TribeVibe also works with stand-up comic artists including Anubhav Singh Bassi, Harsh Gujral, Karunesh Talwar, Samay Raina, Vipul Goyal and Zakir Khan as also EDM (Electronic Dance Music) and BDM (Bollywood Dance Music) artists like DJ Chetas, Lost Stories, Ritviz, DJ Shaan, Sartek, Teri Miko and Zaeden amongst several others. TribeVibe also works closely with BookMyShow in aiding the planning and programming of large format events, tours & IPs involving Indian artists.
Commenting on the investment, Ashish Hemrajani, Founder and CEO, 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. We will enable the extension of these capabilities to curate independent events for larger audiences using our well-entrenched artist network. Through this partnership, we will look to scale TribeVibe using our data analytics and in-depth consumer data as also expand the reach for brand partnerships that will be apt for this young audience cohort.”
Adding to this, Shoven Shah, Founder and CEO, TribeVibe, said, “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 3 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. We are excited to further our long-standing partnership with BookMyShow which is India’s ultimate holistic entertainment platform and take our proposition to the next level by leveraging their expertise, industry experience and proficiency even as we target a 4x increase in our growth over the next one year. Together, we aim to transform the long-tail of the student and potential first jobbers ecosystem in entertainment, enabling brands to reach the right audiences early on.”
TribeVibe is an ever-growing community that has recently launched their ‘Tribe Campus Program’, an ambassador program that brings on board 1000+ young ambassadors from over 300 colleges, across the country annually. With a reach of over 1 million students, the ambassador network enables brands to build salience and gain consumer engagement and adoption within the Gen-Z community. The Campus Ambassador Program gives young talent an opportunity to gain hands-on experience in event management, digital initiatives and brand collaborations, thus building the community network within while parallelly growing the addressable entertainment user base right from an early stage.