"This is another initiative to augment box office revenues by reaching out to more consumers and achieving better penetration into micro markets," said Sanjeev Kumar Bijli.
PVR Ltd, India’s biggest multiplex chain and mobile payments and e-commerce platform Paytm on Monday announced a strategic partnership to sell PVR’s movie tickets on Paytm’s e-commerce platform.
This marks Alibaba-backed Paytm's foray into the online movie ticketing segment and now the firm will compete with online tickets booking company Bigtree Entertainment Pvt. Ltd that operates as Bookmyshow.com.
The current size of movie ticketing market in India is $2 billion and growing 10 per cent annually. The on-line movie marketing is just 15 per cent and Paytm said it is looking to double the share of online-movie ticketing market in quick time and has set aggressive targets, with its base of over 125 million registered users and 90 million orders per month.
PVR said it targets to sell tickets worth Rs. 250-300 crore in terms of revenue in the first year.
“This is another initiative to augment box office revenues by reaching out to more consumers and achieving better penetration into micro markets,” said Sanjeev Kumar Bijli, joint managing director at PVR.
“We are constantly trying to add more services for our users on the Paytm platform. We are making rapid strides towards ensuring that Paytm is the one-stop destination for all frequent payment needs of an Indian consumer and the launch of the movie ticketing facility is another step in this direction,” said Vijay Shekhar Sharma, founder and chief executive, Paytm.
Starting from this month, PVR tickets and food and beverage offerings will be sold and marketed on Paytm’s web portal, mobile apps and other affiliate channels.
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