India’s largest online movie ticket aggregator Book My Show has been facing tough competition from e-payments unicorn and leader Paytm. In its latest filings, Book My Show reported a 27% increase in revenue, from Rs 236 crores in FY 2016 to Rs 300.6 cores in FY 2017. But the growth in online ticketing slowed down compared to 2016, where it saw double the growth.
Meanwhile, Paytm is targeting the Tier 2 and Tier 3 cities. There isn’t much difference in terms of ‘screens’ presented on Book My Show and Paytm. Book My Show is present in 4500 screens in across 650 cities, while Paytm is just around the corner with 4,000 screens in 660 cities.
Talking on its latest filings, an official from Book My Show in their statement to Economic Times stated that, ‘..BookMyShow made numerous strategic and long-term investments in new and existing businesses and territories. These investments, which have already started to yield results’.
Paytm seems to be quite happy with how things are going with their online movie ticket sales. According to Paytm, it has sold 52 million movie & event tickets in 2017, with 500% growth since its launch (movie & event ticketing segment) in May 2016.
Paytm with the backing from strong institutional investors is going aggressive with its promotions and cashback offers to grab the market share from its competitors in different verticles.