Indian Economy News

Paytm forays into online movie ticketing with PVR

Mumbai: PVR Cinemas and mobile payments platform Paytm, announced a tie-up on Monday bringing PVR’s movie tickets to Paytm’s platform as a part of its nationwide foray in the on-line movie ticket segment.

In its first year, PVR targets to sell tickets worth Rs 250-300 crore on the platform in addition to revenues from ticket sales at box offices and other channels.

Sanjeev Kumar Bijli, joint managing director of PVR, said, “Reaching more than 500 screens brings further responsibilities to provide a seamless movie watching experience. With Paytm, we envision to touch millions of movie goers who may now experience the joy of watching films at a PVR Cinema near them. This is another initiative to augment the box office revenues by reaching out to more consumers and achieving better penetration into micro markets. To sum up, this association is a sure delight not only for us but for our patrons, film distributors and producers alike.”

Paytm is aggressively extending its presence in new verticals to become a part of the daily life of its customers.

While the movie ticketing market in India, worth nearly $2 billion is growing at 10 per cent annually, the on-line movie ticketing market is only 15 per cent of the total domestic market.

Paytm intends to double the share in quick time. It already has more than 125 million registered users and clocks 90 million orders every month.

Vijay Shekhar Sharma founder and chief executive officer, Paytm said, “Launch of movie tickets on Paytm is in line with our overall strategy of bringing more and more payment use cases online.”

Today online platforms penalise customers for paying in advance digitally as they are asked to pay a fees and surcharge. We will eradicate this practice and enable customers to purchase popcorn and other confectioneries thereby reducing queues, too.”

"We plan to launch movies with upto 100 per cent (i.e. all the PVR seats will be available booking) and other weekday special promotions to encourage users to try booking movies on the app. We have a collaborative approach with cinemas and other brands and aim to offer consumers incentives to drive the current online penetration from less than 15 per cent to more than 50 per cent in the next three years. We have budgeted Rs 120 crore this year alone for this,”  he added.

Starting this month, PVR tickets and F&B products will be sold and marketed on Paytm's portal web, mobile apps and other affiliated channels. The significant consumer shift over the past few years towards online and mobile sales, with a strong customer relationship management backbone allows better segmentation and analysis in marketing relevant content to the users. For PVR, this shift also helps in reducing the box office burden by reducing costs and making up for the lack of customer data.

Currently, movie ticket at PVR properties are available online though the company’ website, mobile app and Bookmyshow potal and mobile app.

Kamal Gianchandani, chief of strategy, PVR Ltd. added, “We want to serve moviegoers any time, any place with engaging movie information, offers and other features. So, it was natural for us to team up with Paytm, whose mobile wallet and e-commerce services are enjoyed by millions and is a great distribution platform for PVR’s movie tickets and F&B offerings. Paytm’s insights into moviegoer behavior will be a key piece of movie audience data, that will add to our growing data and targeting capabilities platform, as we look to better serve our audiences with timely, targeted and relevant content and messaging."

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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