In the first year of this relationship, PVR targets to sell tickets worth INR 2.5 Bn to INR 3 Bn on Paytm’s ecommerce platforms besides selling tickets from the box offices and other channels.
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. This shift will help PVR in reducing costs and making up for the lack of customer data thereby helping in predictive modeling.
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Paytm is aggressively extending its presence in new verticals as a part of its strategy to be ubiquitous in daily life of its customers. “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,” said Vijay Shekhar Sharma, founder & CEO at Paytm.
He further added, “We have a collaborative approach with cinemas and other brands and aim to offer consumers incentives to drive the currently low online penetration from less than 15% to more than 50% in the next three years. We have budgeted INR 120 Cr. this year alone for this.”
Considering the current size of movie ticketing market in India, which is worth $2 Bn and growing 10% annually, the market is only 15% of the total domestic market. Paytm has set aggressive targets for itself and intends to double the share of online movie ticketing market in short period of time. Paytm has over 125 Mn registered users and 90 Mn orders per month, which could help in reaching out to the growing movie aficionados of the country.
Kamal Gianchandani, Chief of Strategy, PVR Ltd. added “Paytm’s insights into moviegoer behavior will be a key piece of movie audience data that will be added to our growing data and targeting capabilities platform, as we look to better serve our audiences with timely, targeted and relevant content and messaging.”
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