The introduction of Jio has transformed the way Indians use the internet. Gone are the days when people hesitated in spending money online. In fact, most of the users feel comfortable to buy products and tickets. Bookmyshow is currently ruling the movie and events tickets section but Paytm has also achieved big growth in last year or so. Paytm started selling online tickets in March 2016 and since then the company has never looked back. Paytm was able to sell as many as 52 Million movies and events tickets in 2017 which is a big number as compared to the 2016 sales.
BookMyShow has been standing on the number 1 position from long in the online ticketing space. It was launched in 2007 and has a valuation of around Rs 3,000 Crores.
Why Paytm achieved 5 times growth in online tickets sales?
Paytm claims that around 25%-30% of their online tickets sale comes from the opening weekend box office collection of popular Bollywood movies. Whereas, regional movies contribute 35% to the total sales.
- Paytm has partnered with many famous multiplex chains including Cinepolis, INOX and Carnival Cinemas and this helped them in expanding their market in India.
- Paytm provided attractive offers that include refunds and movie passes for the first time.
- Paytm was also the official ticketing partner for the cricket matches and many other popular sporting events including Pro-Kabaddi and Pro Wrestling. Music events like concerts of popular artists such as A. R. Rahman, Arijit Singh and Diljit Dosanjh helped Paytm a lot.
- Paytm has sold tickets for over 8,000 events till now and even hosted events like premieres of Hollywood movies such as Wonder Woman and Thor Ragnarok to attract the new audience.
BookMyShow and Paytm are the main leaders in the online movie and ticketing segment right now. We can not compare both as Bookmyshow is been in this market for so long and Paytm is still in its initial years. But, it will be very interesting to see how these companies will work in coming few months as many other companies like MakeMyTrip and PayU-Citrus Pay will also look to target this section.
