Paytm announced today that its movie-ticketing vertical has crossed GMV of Rs. 400 Crores in less than a year of launch. This is indicative of the fact that consumers have embraced its online ticket-booking platform.
Within a year of launch, Paytm has built a massive supply chain of local theaters by revamping traditional offline ticket booking systems. It has tied up with city based iconic regional theaters like Raj Mandir in Jaipur, among others, to bring their inventories online. Aside from this, Paytm has also partnered with all leading multiplex chains in the country including PVR, Inox, Carnival, Cinepolis and more. The company is also using its widely popular Paytm QR codes to implement easy scan-and-book offline ticketing at their box-office and F&B counters.
Speaking on the announcement, Renu Satti, Vice President – Paytm said, “ Initially, our focus was to tie up with national chains and city theaters for online booking at our platform. We have also enabled them with Paytm QR code based ticket booking at box office and at F&B counters. Subsequently, we have grown the ecosystem bringing in single screens and marquee regional theatres into our platform. It is encouraging to see the high traction amongst both consumers and theatres alike for the platform and new technology.”
Today Paytm’s online movie ticketing service enables bookings across 3500 screens in more than 550 cities. The company aims to build the supply further by enabling more screens come online and at the same time build more integrated online booking and offline experiences with the partners. In a short span of time, Paytm is has become the preferred movie bookings platform for consumers with high repeat usage among its consumers.