It is not a long time after the sale of movie and entertainment tickets business was initiated. Paytm, two years have not been completed, but during this time it has emerged as a strong segment in movie and entertainment ticket business. Online payment and commerce platform Paytm sold 52 Million tickets in 2017. The company had launched movie and entertainment tickets booking on its platform in May 2016 and since then the company has achieved 500% growth in ticket sales. Paytm got a big share of growth from the increase in the customer base. Apart from this, the company has benefited from the increasing number of cinema screens in the country.
Paytm is currently operating in more than 660 cities with 4,000 movie screens. Meanwhile, there has been an increase of 40% which is about 1,600 screens in the last one year. At the same time, Paytm Rival Company BookMyShow is operating in more than 650 cities with just 4500 screens. In the metro market, the BookMyShow is at the top spot. Although BookMyShow did not figure out the tickets sold from the platform in 2017. Paytm had sold 1.6 Million tickets only for Bahubali 2 film, which is more than 30% of its total sales in 2017.
On the lines of Entry and South Indian market in more regional cinema screens, Paytm is aiming to sell 100 Million tickets in 2018. Madhur Deora, Chief Financial Officer of Paytm, said, “Regional Movie’s contribution in total sales of tickets is close to 35%. We are bullish in the future with regional content and we will continue to invest in such markets. We will continue to expand our presence in this sector, together with regional cinemas and production houses.”
Analysts say that Paytm gets the highest sale of movie tickets through Wallet, which also gives cashback. Nevertheless, it will not be easy for Paytm to outbid BookMyShow in metro cities.
An analyst said on condition of anonymity, “Paytm not replace BookMyShow as a primary vendor. When it comes to a deal (cashback), customers like to buy tickets at Paytm for a movie ticket. If cashback is not the case, then most people give preference to BookMyShow.”
Experts say that the Experience of the customers on BookMyShow, review makes it special, especially in Metro cities. At the same time, Paytm has started many things such as full refund, subscription-based movie pass on movie cancellation to make its stronghold in this segment. Through this, it is trying to keep its hold on the segment faster.
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