Exclusive: Swiggy Bolsters Events Play With Launch Of New Offering “Scenes”

In what seems to be a bid to fortify its events and ticketing play, foodtech major Swiggy has launched a new offering on its app, Swiggy Scenes. 

Launched under its “Dineout” offering, the new feature allows users to book parties, events, and live music at Swiggy’s partner restaurants.

In Delhi, users can currently book about 55 events, ranging from new year celebrations to Christmas parties to live music. Similarly, the company has curated about 48 events in Bengaluru. 

Swiggy was not immediately available to respond to Inc42’s queries on the development. The story will be updated on receiving a response. 

This adds to the slew of new launches undertaken by Swiggy over the last year or so. On Wednesday (December 12), the company announced the launch of a new premium invite-only membership programme, One BLCK. 

It also launched its 10-minute food delivery offering Bolt in October.

However, this seems to be the first new offering by Swiggy for its ‘out of home consumption vertical’ in the past year. The vertical encompasses its exclusive events and experiences business Swiggy SteppinOut and restaurant reservations and booking platform Dineout.

Swiggy raked in a revenue of INR 60 Cr from the vertical in Q2 FY25, up 71% from INR 35 Cr in the year-ago period. In its investor presentation, Swiggy forecasted adjusted EBITDA break-even in the ongoing fiscal year for the out of home consumption vertical. 

The vertical’s loss declined 79% to INR 9.26 Cr from INR 44.34 Cr in Q2 FY24. Adjusted EBITDA margin as a percentage of its GOV stood at -1.3% during the quarter under review as against -8.8% in the year-ago quarter.

The development comes at a time when Swiggy’s archrival Zomato has been bolstering its play in the ticketing segment for some time now. After the acquisition of Paytm Insider earlier this year, Zomato launched a separate app for its ticketing arm, District, in November.

Under the app, Zomato offers movies, events and dining offerings to its users. In a bid to boost the growth of its events and ticketing business, along with quick commerce and food deliveries, Zomato raised INR 8,500 Cr (around $1 Bn) through its first qualified institutional placement (QIP) in November. 

In Q2 FY25, its ‘Going Out’ vertical’s revenue jumped 214% to INR 154 Cr from INR 49 Cr in Q2 FY24.

Meanwhile, Swiggy trimmed its consolidated net loss by 4.78% to INR 625.53 Cr in the September quarter from INR 657 Cr in the year-ago quarter. Revenue grew 30% to INR 3,601.45 Cr from INR 2,763.33 Cr in Q2 FY24. 

Shares of Swiggy ended Thursday’s trading session 3.47% lower than previous close at INR 504.55. 

(With inputs from Tapanjana Rudra)

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