Paytm has announced that its movie segment is aiming to contribute 50% to the opening weekend online collection of leading Hollywood and Bollywood movies by the end of 2017. The company aims to achieve this through extensive marketing partnerships to further increase its adoption and reach. The company also claims that paytm movies earned more than Rs. 400 crores in GMV within a year of launch.
Read the complete press release below
Paytm announced today that its movies segment is aiming to contribute 50% to the opening weekend online collection of leading Hollywood and Bollywood Movies by end 2017. The company will achieve this with extensive marketing partnerships to further increase its adoption and reach.
Paytm Movies has received an exceptional response with more than Rs. 400 Crores in GMV within a year of launch. Contributing more than 20% to the opening weekend collection of all major Hollywood and Bollywood movies, the platform is garnering major traction from Tier II and Tier III cities by upgrading traditional offline ticket booking systems in local theaters to online ticketing. It 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.
"We are thrilled to have a great start to 2017 by achieving blockbuster sales for key movie releases. Our aim this year is to contribute more than half of opening weekend online collection for all major movies. We will continue working with all move theatre chains to increase online ticket sales by promoting them aggressively amongst our vast user base." says Renu Satti, Vice President - Paytm.
Today Paytm’s online movie ticketing service is available at more than 3500 screens across 550 cities and the platform’s pan-India distribution reach has led to it currently accounting for around 20% share of opening weekend box-office collection for most movies.