Chennai: PVR Cinemas and Paytm on Monday (Mar 21) announced a strategic partnership that will bring PVR’s movie tickets to Paytm’s e-commerce platform as part of its nationwide foray in the online movie ticket segment.
In the first year of this relationship, PVR targets to sell tickets worth Rs 250 crore -Rs 300 crore on Paytm’s e-commerce platforms besides selling tickets from the box offices and other channels.
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.”
Considering the current size of movie ticketing market in India, worth $2 billion and growing 10% annually, the online movie ticketing market is only 15% of the total domestic market.
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.”
He added, “We plan to launch movies with up to 100% and other weekday special promotions to encourage users to try booking movies on the Paytm app. 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 Rs 120 crore this year alone for this.”
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.
The significant consumer shift over the past few years towards online and mobile sales, with a strong CRM backbone allows better segmentation and analysis in marketing relevant content to users.
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 modelling.
Paytm partners with PVR Cinemas