Paytm in hot pursuit to defeat Bookmyshow!

Ever thought you can book your movie tickets at a lower price than the counter? If Paytm has its way, this will soon be a reality. Noida based digital payment and m-commerce firm is coming up with a new addition to its portfolio. It will be selling movie and entertainment tickets on its platform.

This would mean a tough competition for Bookmyshow, which is till now the only leader in the segment.

Paytm founder and chairman Vijay Shekhar Sharma has told The Economic Times that the idea is to create a marketplace for entertainment tickets with deals and offers for customers. "All the cinema chains can become sellers on the platform and can experiment with various pricing options and deals," he said.

A multiplex will have an option to tag along free popcorn or valet parking offer with a movie ticket for a weekday afternoon show or they can also offer discounted tickets for a screening in a theatre at a location where not many people frequent.

"So much is possible in terms of choice and offers for customers when cinemas become sellers themselves instead of a situation currently where they are just sharing their inventory with a third party," Sharma told the financial daily. He has also added that Bookmyshow can also become a seller on the platform.

Slated to be launched later this week, Paytm will be venturing a Rs 3,000-crore annual business. The company is aiming to include PVR's network of 370 screens in 75 multiplexes across 33 cities. Adlabs-owned Imagica and Aquamagica in Mumbai are already on the platform. However, PVR is yet to decide.
Most multiplexes have their own websites to sell tickets, but they prefer vending them through Bookmyshow, thanks to the latter’s popularity. Paytm may have some limitation in the initial few days, as most cinemas have already collaborated with Bookmyshow.


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