Paytm has partnered with entertainment company PVR to enter the emerging movie ticketing business. The new development will now lets you book PVR movie tickets directly from your Paytm app.
PVR targets to sell tickets worth nearly Rs. 3 billion using Paytm’s e-commerce platform. One97 Communications-owned Paytm, on the other hand, has an annual budget of Rs. 120 crore alone to get expanded in the online movie ticketing. “Launch of movie tickets on Paytm is in line with our overall strategy of bringing more and more payment use cases online,” says Vijay Shekhar Sharma, founder and CEO, Paytm, in a statement.
“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.”
Paytm already has more than 125 million registered users and garners over 90 million orders per month. All this would help PVR cinemas to achieve “better penetration” from micro markets and reach out more of its consumers.
“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,” says Sanjeev Kumar Bijli, joint managing director, PVR. “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.”
The new deal will enable you to get your movie tickets booked using your Paytm wallet. Also, both the companies are set to introduce special promotions in the initial stage to gain your attraction.
Apart from its partnership with PVR, Sharma stated that his Paytm is set to partner with other cinema owners to deliver you more choices in the coming future. The Gurgaon-based company is also in development to offer some other consumer incentives to uplift the existing online penetration from less than 15 percent to more than 50 percent in the next three years.