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Paytm Website Launched Movie Booking Options
Source:
https://paytm.com/movie-tickets
PayTM ties up with PVR, INOX and others to sell movie tickets, move may hurt Bookmyshow
BENGALURU: Paytm has tied up with PVR, INOXBSE 0.96 %, and multiple other cinema houses to sell movie tickets on its platform as an extension to its digital bookings offering, breaking the near monopoly that BookMyShow has over online entertainment business.
The Noida based startup plans to further strengthen its offering by integrating the offline experience and letting users pay for food and other value ad services through their mobile wallet once they reach the movie hall. It will offer cashback deals on ticketing to incentivise customers to book using the platform.
"We will use movie tickets as an anchor to expand our offline reach," commented Vijay Shekhar Sharma, CEO, PayTm."Our aim is to aggressively expand everyday use cases and cover the whole basket ranging from bill payments to ticket bookings and ecommerce. Let the network effect play," he added. The company is already offering theme parks and event tickets and will launch movie tickets this week,
PayTm will work on a commission based model and plans to sell 30,000 tickets by the end of the first quarter with a more aggressive target of 100,000 tickets by the end of the year.
However, even with PayTm's move, Bookmyshow will remain the market leader in the entertainment booking space. Bookmyshow currently gets 60% revenue from movie ticketing, and the rest 40 % from sports, live shows and plays. As of March 31, 2015,bookmyshow.com recorded an average of 42 million visits per month, a 60% growth from 2014.
The company plans to double the number to 100 million tickets in 2016 and along with booking tickets, also focus on the generation of user content through its review platform and creation of special marketing campaigns for new movies. The total estimated addressable market in India is 500 million tickets.
PayTm's investors include Ant Financial, an affiliate of Alibaba Group, SAIF Partners, SAP Ventures, Reliance Capital and Silicon Valley Bank. Bigtree Entertainment, which runs BookMyShow is backed by SAIF Partners, Accel Partners and media firm Network18.
PayTM ties up with PVR, INOX and others to sell movie tickets, move may hurt Bookmyshow - The Economic Times
Source:
https://paytm.com/movie-tickets
PayTM ties up with PVR, INOX and others to sell movie tickets, move may hurt Bookmyshow
BENGALURU: Paytm has tied up with PVR, INOXBSE 0.96 %, and multiple other cinema houses to sell movie tickets on its platform as an extension to its digital bookings offering, breaking the near monopoly that BookMyShow has over online entertainment business.
The Noida based startup plans to further strengthen its offering by integrating the offline experience and letting users pay for food and other value ad services through their mobile wallet once they reach the movie hall. It will offer cashback deals on ticketing to incentivise customers to book using the platform.
"We will use movie tickets as an anchor to expand our offline reach," commented Vijay Shekhar Sharma, CEO, PayTm."Our aim is to aggressively expand everyday use cases and cover the whole basket ranging from bill payments to ticket bookings and ecommerce. Let the network effect play," he added. The company is already offering theme parks and event tickets and will launch movie tickets this week,
PayTm will work on a commission based model and plans to sell 30,000 tickets by the end of the first quarter with a more aggressive target of 100,000 tickets by the end of the year.
However, even with PayTm's move, Bookmyshow will remain the market leader in the entertainment booking space. Bookmyshow currently gets 60% revenue from movie ticketing, and the rest 40 % from sports, live shows and plays. As of March 31, 2015,bookmyshow.com recorded an average of 42 million visits per month, a 60% growth from 2014.
The company plans to double the number to 100 million tickets in 2016 and along with booking tickets, also focus on the generation of user content through its review platform and creation of special marketing campaigns for new movies. The total estimated addressable market in India is 500 million tickets.
PayTm's investors include Ant Financial, an affiliate of Alibaba Group, SAIF Partners, SAP Ventures, Reliance Capital and Silicon Valley Bank. Bigtree Entertainment, which runs BookMyShow is backed by SAIF Partners, Accel Partners and media firm Network18.
PayTM ties up with PVR, INOX and others to sell movie tickets, move may hurt Bookmyshow - The Economic Times
