Showing posts with label Book My Show. Show all posts
Showing posts with label Book My Show. Show all posts

Zomato in talks to acquire Paytm's movies, ticketing business; deal pegged at around Rs 2,000 crore

Zomato Weighs an Order for Paytm Movie Ticket & Gig Biz

Food delivery co looks to take on BookMyShow
Arijit Barman & Samidha Sharma (THE ECONOMIC TIMES; June 17, 2024)

Food delivery company Zomato is in advanced negotiations to acquire Paytm’s movie ticketing and events division as the Deepinder Goyal-led firm looks to double down on its ‘going-out’ businesses, according to two people in the know. The deal may value Paytm’s vertical at Rs 1,600-1,750 crore, they said. Adding receivables from cinema exhibitors, the valuation could go up to Rs 2,000 crore, they added.

A formal announcement is expected later this month, perhaps as early as this week.

Zomato and Paytm spokespersons declined to comment.

“Paytm Movies and Paytm Insider are being merged to bring in synergies between the two teams,” said one of the persons cited. “The idea is to build this as a single unit… Zomato’s interest in this segment has been there for a while so it fits in very well.”

Zomato has been looking to capture consumer demand across categories such as food, grocery and entertainment.

Among largest buyouts for company
If the transaction goes through, it will be among the largest buyouts for Zomato after it acquired Uber Eats in 2020 and took over quick commerce platform Blinkit (then Grofers) in 2021 in an all-stock deal for Rs 4,447 crore.

Noida-based One97 Communications, which runs Paytm, began to push events and movie ticketing inorganically. It bought a majority stake in Insider.in, an online ticketing and events platform backed by event management company Only Much Louder (OML), for a little over Rs 35 crore in 2017. A year later, Paytm acquired Chennai-based online ticketing platform TicketNew to bulk up its entertainment ticketing business. OML subsequently cashed out to be a part of the KKR-backed platform Emerald Media.

Paytm Movies is the closest competitor to segment leader BookMyShow (BMS) in the movie ticketing segment. The Mumbai-based company, which counts Reliance Industries as well as venture capital funds like Accel and Elevation as its backers, clocked operating revenue of Rs 976 crore and profit of Rs 85.72 crore in FY23. BMS is in the process of closing a funding round in which private equity firm KKR is buying out existing shareholders, valuing the Ashish Hemrajani-founded company at Rs 7,500 crore

Diversification
Zomato offers ticket-booking services for events, along with running a food festival called Zomaland. It organized American musician Post Malone’s India tour in December 2022 and has been keen to make events and entertainment its fourth pillar.

The Gurgaon-headquartered firm separately reported numbers for its going-out vertical for the first time for the September 2023 quarter. Zomato’s Goyal had said at the time that the combination of dining out, events and ticketing could be the “fourth large business coming out of Zomato.”

Food ordering, Blinkit and Hyperpure, which provides supplies to restaurants, are the other three verticals for the food delivery firm.

“Zomato’s strategy is to take as much control of the customer’s discretionary spending wallet as possible,” said an executive.

“It already has 18.4 million average monthly transacting customers in its food delivery business in FY24. In quick commerce, it’s already the market leader with over 6 million average monthly transacting customers (Q4, FY24) and is looking to double its dark store footprint to 1,000 pan India over the next year. It sees this space as a quasi monopoly with BMS and feels it can take on competition in a duopoly situation. It already has a massive customer base to cross-sell the various services.”

According to Ormax, the Indian box office grossed a record Rs 12,226 crore in 2023, surpassing even pre-Covid numbers and marking the first time it exceeded Rs 12,000 crore.

In 2019, the Indian film industry’s gross box office collections were at Rs 10,948 crore. The live event segment can reach Rs 14,300 crore by 2026, as per a FICCI-EY report as sports events such as the Indian Premier League (IPL), the cricket World Cup, the football India Super League (ISL) and the Kho Kho league cater to an increasing number of fans. Live music concerts, curated events and international and homegrown festival franchises -- Lollapalooza, NH7 Weekender and Magnetic Fields among others -- have gained traction since Covid.

Paytm Marketing Services -- erstwhile cloud and commerce -- includes deals and gift vouchers and ticketing for travel, movies and events, advertising and credit card marketing, among others. Revenue from marketing services in FY24 stood at Rs 1,734 crore while FY23 revenue for Wasteland Entertainment Pvt, the entity running live events platform Insider, was Rs 192.7 crore, up from Rs 48.6 crore a year before.

From organising treks, comedy events, dine-out and other immersive experiences, and weekend gateways to hosting global acts like UB40, 50 Cent and Ronan Keating at festivals, clubs, gigs and concerts, Paytm has diversified into this fast-growing space in recent years.

Payments focus
Nearly 83% revenue at the overall level at ⁠One97 Communications in FY24 came from payments and financial services, which includes payments, credit, insurance and wealth management. The remaining 17% was from marketing services. Another person familiar with the deal said that the Paytm board wants the Vijay Shekhar Sharma company to focus on its core payments and financial services businesses.

Paytm’s payments bank was banned from operating on January 31 by the country’s central bank due to continued regulatory lapses. Since then the fintech major has been hit by a slowdown in two of its core businesses-merchant payments and consumer lending, according to its quarterly exchange filings. It expects an EBITDA loss before Esop costs of Rs 500-600 crore in the June quarter.
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Asmita Dey (THE TIMES OF INDIA; June 17, 2024)

Mumbai: Paytm is in advanced stages of discussion to sell its movie and events ticketing business to Zomato as part of the fintech's strategy to divest its non-core assets, sources aware of the development told TOI. The deal, if finalised, could value the business vertical of Paytm at close to Rs 2,000 crore.

In a stock exchange filing late Sunday, Zomato said that it is in discussions with Paytm to acquire its movies and events ticketing business. The discussion, the firm said, is being undertaken with an intent to strengthen its 'going-out' business. "However, no binding decision has been taken at this stage that would warrant a board approval and subsequent disclosure," Zomato added.

In a separate filing, Paytm also said that the discussions are preliminary and do not involve any binding agreements that require approval or disclosure. "The company routinely explores various strategic opportunities aimed at enhancing shareholder value. The potential transfer of Paytm's entertainment business, a component of our marketing services, is one opportunity under consideration. As noted in our earnings call, our focus will be on payment and financial services along with digital goods commerce, which are designed to help our merchants scale their businesses," the firm said.

"Paytm wants to focus on its payments and financial services businesses. It will only focus on opportunities which would help its merchants scale their businesses," sources said. For Zomato, the deal will add value - acquiring Paytm's movie and events ticketing verticals would fit in well with and give a leg-up to its going-out business, analysts said. The food delivery firm's 'going-out' vertical already offers discovery and ticketing of offline experiences such as in-restaurant dining and live events such as Zomaland.

Revenues from its going-out segment have grown by over 100% year-on-year to Rs 93 crore in the March quarter. "Paytm is currently merging its movies and the Insider (events platform) vertical into one team. For now, customers may continue to book both movies and events on the Paytm app," sources said.

However, Zomato is likely to work on integrating the two verticals within its platform once the deal is through, they added. A formal announcement of the deal could happen as early as next week, sources said.
Paytm in talks with Zomato to sell its movie, ticketing biz

Still in nascent stage, pay-per-view streaming model has huge potential

Box Office: 'Bullet Train' Derails With Mediocre Debut, 'Top Gun: Maverick' Breaks 'Titanic' Record

Niharika Lal (BOMBAY TIMES; October 8, 2022)

Did you miss Tom Cruise’s Top Gun: Maverick or Brad Pitt’s Bullet Train in cinemas and now want to watch the film at home? Try TVOD – Transactional Video On Demand – also known as pay-per-view, as these recent releases are available on rent across multiple platforms. When cinemas were shut in the beginning of the pandemic, viewers shifted to video-on-demand services in increasing numbers, but as people return to cinemas, TVOD is still clicking with a section of viewers, who purchase both old and new films.

TVOD IS TAKING BABY STEPS IN INDIA
During Amazon Prime’s TVOD launch, Gaurav Gandhi from the platform said, “The TVOD movie rental service gives customers more choice in how they want to access and watch content. It enables them to pay per movie, instead of a flat monthly fee.”

Zee also experimented with models of pay-per-view releases with their hybridized release of Salman Khan-starrer Radhe on ZeePlex. Commenting on it, a Zee official had said then, “The pay-per-view format is meant to enable the audiences to make the choice as to where and when they want to consume the content that is available to them.”

The TVOD platform BookMyShow Stream was launched last year and Ashish Saksena, COO – Cinemas, BookMyShow, says, “TVOD has been amongst the most exciting spaces to be for content makers and studios alike, as the culture of ‘Pay for what you want to watch’ is fast gaining traction, rather than having multiple subscriptions. We have witnessed high interest and engagement across varied cross-sections of the audience for both rent and buy options.”

However, he adds, “The TVOD model is currently not being utilized fully by Indian-home-grown studios and content owners. As an emerging business model nationally, there is a strong case for the massive potential that the TVOD model holds.”

Other platforms offering pay-per-view are YouTube, ShemarooMe Box Office and Apple TV Plus.

‘CATERING TO NICHE, URBAN AUDIENCE CURRENTLY’
Sharing what works for the TVOD model, Girish Johar, producer and business analyst, says, “It’s a combination of a lot of things. An entire family can watch a movie for the price of one ticket, which is indeed quite reasonable, and plus they can watch it from the comfort of their home and when they want to. It also is somewhat like the VCR era when families would gather and watch a film together. Currently, it is urban-centric but has scope of growth.”

However, he adds, “In the US and European market, TVOD is very mature, but in India it is at a nascent stage. Radhe was TVOD release, but didn’t do well in terms of audience because the market is not that mature and also because Salman’s audience is not your TVOD audience. Our entertainment is still very different and TVOD doesn’t have to be a replacement but it can be one of the avenues. You see more mature content from Hollywood on TVOD because their market is more mature than in India. Over the years it may reach at that stage, but at present it is for a niche audience.”

Talking about the challenges, media and internet research analyst Karan Taurani was recently quoted as saying, “The TVOD market in India is very premature and the Indian audience would pay for a bouquet of services and variety of content, but refrain to pay on a transaction basis. Scalability of TVOD remains a big challenge as there is only a very niche audience. ”

‘WITH TVOD, YOU GET ACCESS TO NEW RELEASES AND CLASSICS’
Saurabh, a 27-year-old government employee, says, “There are many films which are not released in India or have limited shows so you miss those. For instance, I had seen French Dispatch on pay-per-view because it was not released in India. There are some films which have shows during the weekday, when officegoers can’t go, but with TVOD you can just purchase or rent the film online.”

Rashmi Ahuja, 31, who works in an ed-tech company, says, “Pay-per-view definitely gives you more options. Sometimes someone recommends a classic film, but it is not available anywhere. However, with TVOD, you can get access to these by paying just 100-200.”

WHAT IS THE PAY-PER-VIEW MODEL?
In pay-per-view (or Transactional Video On Demand), viewers have the choice to pay for only the content they want to watch. Instead of paying a flat fee for an OTT platform, people can only pay for the film or show they wish to watch. In SVOD (Subscription Video On Demand), the viewer gets access to the complete library of the OTT platform and there is no time limit to watch the content
available, while in TVOD, the audience has access to the film/show for a limited period of time.

After appeals from PETA India and John Abraham, BookMyShow stops selling circus tickets

A circus bear in action. Representation pic; (right) Actor and animal lover John Abraham wrote to BookMyShow on behalf of PETA India

Move by popular ticketing platform comes after high-profile campaign by PETA, backed by celebs like John Abraham and boxer Vijender Singh
Shirish Vaktania (MID-DAY; August 30, 2022)

Heeding appeals from PETA India, BookMyShow has dropped from its ticketing platform circuses that use animals for entertainment. The decision by the movie- and event-ticketing company comes days after the People for the Ethical Treatment of Animals put up a billboard outside BookMyShow’s Andheri office highlighting animal cruelty at circuses and also met the company officials. For now, the portal has stopped selling tickets for Asiad and Great Gemini circuses.

Five months ago, PETA India had also roped in Bollywood actor John Abraham to urge BookMyShow to discontinue tickets for circuses that use animals. On its billboard, PETA India featured boxer Vijender Singh with the message: “Knock Out Cruelty: Boycott Circuses”.

Sources said the ticketing company has expressly assured PETA India that it would form an official policy regarding circuses using animals.

Hiraj Laljani, PETA India’s associate manager of media and celebrity projects, said, “Few months back we approached Bollywood star John Abraham who is also an animal lover and requested him to write a letter on behalf of PETA India to BookMyShow to stop selling animal circus tickets from their portal.”

In the letter to BookMyShow, John Abraham cited a circus in Pune that was apparently using animals not registered with the Animal Welfare Board of India (AWBI). It pointed to the act that involved swallowing and regurgitating fish. 

“I hope that you will not side with cruelty and that BookMyShow will do the right thing by implementing a policy not to promote, sell a permit the sale of tickets of circuses that use animals,” it said. 

Acting on the letter and PETA India’s billboard outside its office, BookMyShow on Saturday dropped two circuses from its portal. 

PETA India’s director Poorva Joshipura told mid-day, “Circuses worldwide are moving towards using only consenting human performers who are free to come and go, get paid, and can retire—unlike animals who are caged, chained, and forced to do tricks for their entire lives under the threat of punishment.”

Commending BookMyShow for dropping the two circuses from its portal, Joshipura said, the e-ticketing platform has sold tickets for Rambo Circus whose owner was recently arrested for various violations of animal protection laws and let out on bail. “The Animal Welfare Board of India recently sought action against Ajanta Circus for using animals without the required certification.” 

The PETA India official added, “Circuses are so notorious for their cruelty to animals and disregard of animal protection laws that in 2017, 2019, and 2020, the AWBI advised the central government to pass legislation to stop the use of animals in  circuses. Last year, the Central Zoo Authority cancelled its recognition of the Great Golden Circus, the only circus that was still using elephants for performances.”

Officials from the animal rights organization said they recently collected appeals from 100 veterinarians from different states and got a petition signed by 1,00,000 students from across the country urging the minister of fisheries, animal husbandry and dairy to bring in laws to prohibit the use of animals in circuses.

After Salman Khan’s Radhe, Jackie Shroff’s next The Interview takes the less-explored pay-per-view route


Mohar Basu (MID-DAY; August 12, 2021)

Earlier this year, Salman Khan tested the waters of pay-per-view entertainment with Radhe: Your Most Wanted Bhai. Now, Jackie Shroff’s upcoming drama, The Interview: Night of 26/11, is taking a similar route. In the Hindi remake of the Dutch film, Interview (2003), Shroff plays an ace war correspondent who changes tracks from serious journalism to sensationalism when he gets an opportunity to interview a leading Bollywood heroine.

The actor, who has watched the 2003 original, says he jumped at the opportunity to feature in its adaptation. “I enjoyed working with international director Laurens Postma. My character is stuck in an interview with a Bollywood actress on the night of 26/11, but as the hours pass, the interview goes off the rails. Prawaal Raman’s dialogues brought a lot of depth to the characters,” he says.

The fate of the Shroff-starrer remains to be seen as it premieres on BookMyShow Stream in a pay-per-view model. Films in India so far haven’t had a successful tryst with the model — while Ishaan Khatter and Ananya Panday-led Khaali Peeli tanked last year, Radhe enjoyed initial success but soon fell prey to piracy. 

We are live streaming the whole film, being performed in one shot-Chandan Roy Sanyal

Chandan Roy Sanyal
Actor-director Chandan Roy Sanyal's latest cinematic experiment makes its debut online today as a one-shot film, being acted out and live-streamed with no cuts
Aastha Atray Banan (MID-DAY; December 20, 2020)

For actor Chandan Roy Sanyal, best known for the role of Mikhail in Kaminey, the lockdown brought his production company, Proscenium Film Company, to a halt. But after a few months of being out of action, Sanyal and his colleagues realised they couldn't idle away their time. They decided to get into the groove of things by starting small, with a rehearsal reading on Zoom.

"We began with reading Dumbwaiter, a one-act play by Harold Pinter. We started rehearsing four versions of it. We were hoping to perform it, but then we were told nothing was possible until the theatres opened. So, we had to figure how to put together a play that could be taken to the audiences, online, in a digital format," says Sanyal, last seen in Prakash Jha's web series, Aashram.

Dipping into the feeling of frustration, he wrote In Between, which is set in the waiting room where an audition for a film takes place, and is packed with actors who play "actors auditioning for a role". In its format, the film is a one-shot film, which basically means it has no cuts. "What the format needs is a fair bit of rehearsing. If you make a mistake, it won't work. The audience is watching it as we are doing it, so to speak. It's not recorded. It's like live streaming the whole film, being performed in one shot. It's no different from being at the theatre," he explains. When ticketing platform Book My Show saw a sample of one rehearsal, they gave them their platform to stream it on.

That's about form. As far as the subject went, it's the insider-outsider debate that erupted after the death of actor Sushant Singh Rajput, that proved inspiration. "Often, people forget that even established actors need to give auditions and face rejection. Soon, the whole debate nosedived and everyone was taking potshots at the film industry. Basically, actors were called useless. The perception was that the movies are all about glamour, and no hard work. That's why I wrote In Between, which is set in an audition waiting room, and shows the desperation an actor experiences to get a part."

Sanyal admits that he drew into his own personal struggle, remembering a time when he took the local train, his world packed in one bag. "I would change in public washrooms, shave, wash up, and know how to be ready just about anywhere. What also happens is that in an audition room, whatever is happening outside doesn't count. You may have come from a funeral, but inside the audition room you have to behave as if nothing has happened. You may already be a working actor, and may have come from a set, but here, you are like a beginner giving an audition."

In Between, then, was his way of letting the audience and aspiring performers into an actor's life, especially the patches of frustration and the politics. "They should know that this is a playground and you have to get dirty to get some place. And even once you get what you want, you have to keep at it because then it's about getting the next good part, and the next. It's not easy at all."

The cast of In Between play the role of actors who are waiting for their turn at an audition

Coronavirus: Get ready for the virtual entertainment amid the lockdown

Vir Das and Jonita Gandhi
Vir Das and Jonita Gandhi

From live-streaming music gigs and comedy specials to interactive plays, mid-day gets a behind-the-scenes understanding of virtual entertainment amid the lockdown
Mohar Basu (MID-DAY; April 17, 2020)

The film and television industry may have come to a screeching halt, but Indian viewers are, by no means, short on entertainment. When Prateek Kuhad is not live-streaming his performance on the Internet, Vir Das pops up on your laptop screen, ready with his at-home comedy special. In the three weeks of lockdown, how we consume entertainment has changed as much as how we live, with an increasing number of artistes exploring virtual gigs.

Amongst the first to tap into this was BookMyShow that enabled various virtual live properties, including performances by Indian Ocean and Karsh Kale. "Thanks to great collaborations and Instagram as the host platform, we brought live music, dramatised readings, poetry recitals and stand-up comedy sessions to the safety of viewers' homes. We kickstarted the #StayFitIndiaChallenge that features over 50 trainers offering more than 500 fitness sessions," says Albert Almeida, COO, Live Entertainment, BookMyShow.

He explains that they promote an upcoming offering aggressively through various social media channels to ensure maximum eyeballs. "#LiveInYourLivingRoom, which had Armaan Malik, Ankur Tewari, and Jonita Gandhi performing, amassed close to half a million viewers."

Roshan AbbasWhile promotion is the relatively easy part of the game, the execution poses a bigger challenge. Ask Roshan Abbas (right), whose company Kommune took entertainment a step ahead by curating the virtual play, Lockdown Love, that was performed over Zoom by Priyanshu Painyuli and Shriya Pilgaonkar.

"We experimented for two weeks with the core team to perfect the technological aspect of our play. A week went into scripting and casting, after which we prepped for the next few days. The challenge here is the [Internet's] bandwidth. We took feedback after our first preview on Sunday, and people categorically said two things — that it's a lot less personal than regular plays, and it should be made more interactive. So, we will be incorporating these aspects in our next show," explains Abbas.

While the Internet has its share of open-to-all gigs, organisers are slowly moving towards monetising the acts. For instance, Abbas's play was priced at Rs 499 per person. "The proceeds from the gig went to charity. As far as monetisation goes, there are different models to tap into different sections of the audience. Some comics are selling their shows for Rs 299 and there are four-week virtual workshops available for Rs 5,000." He adds that this could be the way ahead as brands are heavily investing in virtual content. "After all, for the next few months, this is the new normal."

It is evident that there is no dearth of takers — Vir Das has sold out 12 virtual shows of Vir Das At Home, tickets for which were priced at Rs 499. "Technology has made it easier for us to plan and produce shows over video calls. The audience is available out there. How long can it be sustained? That's tough to say. I hope people keep coming in larger numbers over the next few weeks. If there's a demand, there will be supply."

The team of Lockdown Love during their prep
The team of Lockdown Love during their prep

Prateek Kuhad and Ankur Tiwari singing live from home
Prateek Kuhad and Ankur Tiwari singing live from home

Justin Bieber concert attendees recall their nightmare and accuse organisers of apathy

Justin Bieber at the concert on Wednesday night
In a case of gross mismanagement, platinum concert- goers ended up in the same arena as silver ticket holders; a few attendees recall their nightmare and accuse organisers of apathy
Gaurav Sarkar (MID-DAY; May 12, 2017)

With the dissent over Justin Bieber’s concert running deep among a section of Mumbaikars, it seems the pop star’s lip-syncing and shortage of dustbins at the venue was just the tip of the iceberg.

“The queue at the box office was held up because they ran out paper to print the tickets on,” said 21-year-old Leon Saalis de Souza, a Byculla-based PR consultant and musician. Leon and his friend reached the venue at 5 pm, an hour before DJ Alan Walker — who they were excited about— was scheduled to come on stage. But the duo were stuck in a stationary queue for nearly an hour. “I managed to get my tickets close to 7 pm, but Walker’s set had ended by then.”

Silver, platinum same same
Given that the tickets were reportedly priced from Rs 5,000 to Rs 70,000, one would think that all the offers mentioned for the higher priced tickets, which includes free merchandise, a separate section distancing them from the lower paid ticket holders, as well as a back stage tour, would have been adhered to. However, the gig was so unorganised that the silver, platinum, and VVIP 3 sections ended up getting clubbed together.

Javed Sheikh, 48, a Colaba resident who attended the concert with his wife, daughter, and nephew, has written to BookMyShow citing that a ‘clear fraud has been committed by Bookmyshow and the event organisers’. His email states: “We demand a complete refund and also let us know as to how you would compensate us for the stress, inconvenience, loss of time and harassment.”

Speaking to mid-day, Sheikh, who had paid around Rs 35,000 for each VVIP 3 (backstage) ticket, said: “Our VVIP 3 passes promised us a backstage tour, free merchandise and the designated section for such ticket holders was highlighted in a different colour. But we were all clubbed together. Three hours into the show we were promised a different section, but that didn’t happen. The merchandise stall collapsed at 4 pm.”

Getting benefits of Rs 35,000 out of a Rs 15,000 ticket, he has asked his bank to do a chargeback on the tickets citing the same reasons.

Reacting to the complaint, a BookMyShow rep said, “We understand and share the customer’s concerns on some of the highlighted issues and are working with the organisers, White Fox India, to promptly address them.”

In spite of being the first ones to enter the gates at around 2 PM, Juhu-based fashion designer Amy Billimoria, who had bought two platinum tickets for Rs 15,000 each for her and her 13-year-old daughter Aaryanne early in February, had a nightmarish experience. “My daughter is a hardcore Belieber and wanted was to see him up close.” But after entering, Amy was unable to find the entry for the platinum section. They were guided through the silver arena, and were amazed to see that none other than silver ticket holders, who refused to budge, had occupied the front row in the platinum section. “Despite pointing that out to the authorities, none took action,” said Amy.

Platinum and silver ticket holders in the same arena. Pic/Sneha Kharabe

Million tickets of Baahubali 2 sold already


First day, first show of Bahubali in certain theatres in city costs Rs 1500 a stub
Mohar Basu (MID-DAY; April 27, 2017)

The anticipation for Baahubali: The Conclusion has reached a crescendo. And if one had to put it to sheer numbers, it would translate to one million tickets a day. The film has registered the highest advance ticket sales just two days ahead of release, shattering the record of Aamir Khan-starrer Dangal.

Popular online ticket booking platform, BookMyShow, yesterday announced that it had already sold over a million tickets in just over 24 hours for the war drama, a 45 per cent hike from Dangal’s first day sales. What’s more, the bookings haven’t opened across all cinemas, especially in the South.

Ashish Saksena, COO Cinemas, BookMyShow, said, “Though Baahubali 2 is perceived to be loved by the South Indian audience, the response from Hindi-speaking markets has been highly encouraging. Once all South cinemas fix their schedules, e-ticket sales will soar further.”

Given the Baahubali craze with fans impatient to find out why Kattappa killed Bahubali, ticket prices are at an all time high. For Dangal, an Xmas release, it was Rs 800. But for a non-holiday IPL season release, the cost of first day first show is in the range of Rs 1200-1500 at bigger multiplexes like Inox and PVR. Baahubali 2 is releasing across 6,500 creens in India.

Kamal Gianchandani, CEO PVR Pictures, refused to comment. Exhibitor-distributor Akshaye Rathi says, “The overhead cost for any multiplex is high and in the past few months, not many films have done great business. A hike of 10-15 per cent is justified because in case of grand films like Baahubali, people are willing to overpay.”

A screen grab of a Friday 8 am ticket cost at PVR Icon, Versova
A screen grab of a Friday 8 am ticket cost at PVR Icon, Versova 

PK first film to gross Rs 100 crore from online bookings


Anshul Dhamija & Boby Kurian (THE TIMES OF INDIA; January 30, 2015)

Aamir Khan-starrer PK has become the first Bollywood film to gross Rs 100 crore from online bookings, signalling that internet economy is beginning to seriously influence India’s movie-going habits. BookMyShow, the country’s largest online entertainment ticketing platform with over 90% market share, has reported over Rs 102 crore in revenue from the sale of PK tickets, as of Wednesday. This represented 21% of PK’s domestic collections and 16% of its gross earnings, including the overseas numbers.

PK’s box office revenue topped Rs 647 crore, or $104 million, making it the most successful Bollywood film till date.

BookMyShow data said PK’s online sales were 100% higher than Dhoom 3, which netted Rs 47 crore through internet sales. The other top internet sales grossing Bollywood films include Happy New Year (Rs 36 crore), Kick (Rs 31 crore), and Chennai Express (Rs 30 crore).

India’s consumer internet startups, heavily funded by the Wall Street hedge funds and Silicon Valley venture capitalists, are riding high on the surging number of internet users, estimated at over 250 million currently. Mobile internet is driving online consumerism, bringing in as much as 70% of the traffic for most companies. “Immediacy of movie ticket purchases is getting shorter and there is a higher rate of impulsive buying that is happening, as consumers now have greater access to tools like internet and mobile,” BookMyShow CEO Ashish Hemrajani told TOI. The Mumbai-based company is funded by Accel Partners, Tiger Global and SAIF Partners, among others.

India’s box office is estimated to sell 50 million tickets monthly, with 4-6 million being sold online. PK’s online book ing stood at 6.5 million. Online ticketing accounts for 20% of Hollywood and 16% of the Chinese box office collections, pegged at $11 billion and $3.6 billion annually. Online sales of niche Bollywood films like The Lunchbox and Madras CafĂ© were 40-70% of the gross collections.

Hemrajani said almost 50% of cinema bookings for the weekend are done either on the day of the show or just a couple of hours before the show. “This is the internetization of the Indian consumer story. It will gather pace as more people get comfortable with smartphones,” said Rehan Yar Khan, founder and MD, Orios Venture Partners, an early-stage investor in new-age software product and consumer internet startups.

Hemrajani added, “Next year, we may talk of a movie that has crossed Rs 150 crore or Rs 200 crore in online sales.”