Latest reports suggest that Paytm has become India’s fastest growing entertainment ticketing platform and the platform has seen an exponential growth of 5 times as compared to the year 2016. The company has revealed that its entertainment vertical has sold more than 52 million movie and event tickets in 2017.
Talking about the future plans of the company, Madhur Deora, Chief Financial Officer of Paytm said, “Our aim this year is to become a market leader in entertainment ticketing category and sell more than 100 million tickets across India.” He also added that Paytm users can pay for their movie tickets, food, parking, and transport with a single app.
In South India, Paytm has inked exclusive partnerships with leading regional multiplex chains like SPI Cinemas, SVC, Suresh Productions, Anusri Cinemas, and V Celluloid. This, in turn, has helped the company gain a big market share in the South Indian movie industry.
Almost all major national as well as regional chains are currently available on the platform, whereby the platform contributes to 30% of the overall ticket sales. The company is also planning to work with more regional theatres with single and multi-screens so as to bring them online.
Talking about the rising trend of e-ticketing, Apoorva Mehta, CEO of Dharma Productions said, “Our partnership with Paytm holds immense significance with respect to our goals.” The production company has been working closely with the platform since the release of Ae Dil Hai Mushkil and is planning to set bigger targets for the year 2018-19.
Interestingly, Paytm had launched the movie ticketing platform in 2016 in partnership with PVR and since then it has come a long way. In the last 2 years, the former has inked numerous deals with various multiplex chains like INOX, Cinepolis, and Carnival Cinemas which has helped it expand its presence across the country.