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Paytm plans to sell movie and entertainment tickets; to take on Bookmyshow.com

Vijay Shekhar Sharma told ET that the idea is to create a marketplace for entertainment tickets with deals and offers for customers.

, ET Bureau|
Last Updated: Sep 22, 2015, 08.17 AM IST
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Vijay Shekhar Sharma told ET that the idea is to create a marketplace for entertainment tickets with deals and offers for customers.
Vijay Shekhar Sharma told ET that the idea is to create a marketplace for entertainment tickets with deals and offers for customers.
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NEW DELHI: Digital payment and m-commerce firm Paytm is planning to expand into selling movie and entertainment tickets, taking on Bookmyshow. com, which has widened its reach to all big multiplexes in the country and enjoys a near monopoly in this space.

Paytm founder and chairman Vijay Shekhar Sharma told ET 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. For instance, a multiplex can choose to bundle free popcorn or valet parking with a movie ticket for a weekday afternoon show or offer discounted tickets for a screening in a theatre at a remote location.

“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,” said Sharma. According to him, there should be no conflict with Bookmyshow as it can also become a seller on the platform.

The web-based beta version of the marketplace will be launched later this week and mobile apps will follow soon. According to Paytm, online movie ticketing is a Rs 3,000-crore annual business with such bookings accounting for a 25% share of the total. The largest multiplex chain in the country is PVR, which has a 30% market share with more than 4.4 crore bookings a year.

The company is targeting PVR’s network of 370 screens in 75 multiplexes across 33 cities while Adlabs-owned Imagica and Aquamagica in Mumbai already on the platform.

When contacted chief information officer of PVR, Meenakshi Vajpai confirmed that Paytm has approached them for a tie-up but talks are yet to be concluded. “We have already tied up with Paytm for their e-wallet services,” she said. While most multiplexes have their own booking engines, they sell a major chuck of their tickets through Bookmyshow.

Since cinema chains have contracts with Bookmyshow, Paytm may be initially limited in the scope of its operations.

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