BookMyShow to sell PVR Cinema’s tickets for next 5 years
Online ticketing firm BookMyShow. com will be responsible for marketing and selling tickets of multiplex chain PVR Cinemas for the next five years, thanks to a deal between the two companies.
Under the terms of the five-year deal, BookMyShow. com will market and sell tickets over its web, mobile apps and other affiliate channels, with a sales target of Rs 1,000 crore over the five-year period.
Announcing the deal on Monday, BookMyShow. com said, "BookMyShow. com has signed a five-year deal as the online ticketing partner for PVR cinemas across India. The companies are targeting ticket sales worth Rs. 1,000 crore over these five years."
Ashish Hemrajani, founder & chief executive of BookMyShow. com, said that the partnership was a great development from the perspective of the entertainment industry.
Pramod Arora, president & chief executive of PVR Cinemas Group, said that the deal would help boost the box office revenues by reaching out to more & more consumers.
Mr. Arora added that the five-year deal would also help the company in achieving better penetration in micro markets.
Currently, only a fifth of PVR Cinemas' ticket sales take place through the multiplex chain's own website. With this partnership, PVR expects the figure to jump to 24-25 per cent annually.