Extending its presence in new verticals, Paytm, India’s largest mobile payments and commerce platform has announced a new strategic relationship with PVR cinemas. Under this partnership, Paytm will sell movie tickets of PVR cinemas across India on its e-commerce platform. In the first year of this relationship, PVR targets to sell tickets worth Rs. 2.5-3 billion on Paytm’s e-commerce platforms besides selling tickets from the box offices and other channels.
According to Paytm, the buyers of PVR movie tickets on their online platform will get the benefit of ease of operation and they will be rewarded with cash back also and this will be a great relief to the users as they won’t end up paying more than the actual price of the movie ticket as other portal like Bookmy Show charges service fee for booking the ticket online.
Mr. Vijay Shekhar Sharma, Founder & CEO, 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 also enable customers to purchase popcorn and other confectionaries online thereby reducing queues as well.”
Starting this month, PVR tickets and F&B products will be sold and marketed on Paytm portal’s web, mobile apps and other affiliate channels. For PVR, this shift also helps in reducing the burden at the box office by reducing costs and making up for the lack of customer data thereby helping in predictive modeling.
The current size of movie ticketing market in India is worth USD 2 billion and growing 10% annually and the on-line movie ticketing market is only 15% of the total domestic market. Paytm has set aggressive targets for itself and intends to double the share of on-line movie ticketing market in quick time. With over 125 million registered users and 90 million orders per month, Paytm is the perfect e-commerce platform to reach out to the growing movie aficionados of the country with this association.
Mr. Sanjeev Kumar Bijli, Joint Managing Director, PVR Ltd. said, “In our never-ending passion to provide convenience to our esteemed patrons, we have partnered with Paytm as our e-ticketing channel partner. Reaching over 500 screens brings further responsibilities to provide a seamless movie watching experience. With Paytm, we envision to touch millions of new 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!”
