Update: It’s a 5 year “strategic partnership”, as per a note from BookMyShow, targeting Rs 1000 crores of ticket sales over a five year period, exclusively on BookMyShow. Sounds like a minimum guarantee deal to us. BookMyShow is now PVR’s “Preferred e-ticketing channel partner”, and the deal will “augment the box office revenues”, and provide PVR with CRM capabilities like Know Your Customer.
Earlier today: This is big: BookMyShow, India’s largest online movie ticketing website, has finally inked a deal to offer ticketing from the multiplex chain PVR Cinemas. We had first heard about a potential deal between the two early in January this year, which is when, we’d heard, PVR tickets would go live on BookMyShow. It’s taken quite some time. (news hat tip – Karan Arora)
Prior to this development, PVR offered online ticketing only through its own website and mobile apps and didn’t offer online ticketing through any third party movie ticketing portals. The company is one of the largest multiplex cinema chains in India and claims to have 248 screens at 51 locations across 13 States and 1 Union Territory. It had also acquired 69.27% stake in Cinemax India for a total sale consideration of Rs 394 crore in November 2012, through which it secured access to 139 screens across 39 theaters in India.
On the other hand, BookMyShow offered tickets for 1400 screens across 105 cities in India. With the PVR deal, that, we assume, would increase to at least 1787 screens. For the nine months ended December 31st 2012, BookMyShow had claimed to have sold an average of over 2 million tickets.
Bookmyshow now offers online ticketing for both PVR Cinemas and Cinemax India through its website and mobile apps (screenshots below). When we’d checked a couple of days ago, on Saturday, it didn’t. Prior to this development, Bookmyshow had started also showing listings for PVR Cinemas in a separate section some time last year, however it was limited to only show timings, because it didn’t have the deal to offer ticketing yet.
As of December 31st, 2012, BookMyShow had around 5 million registered users and was clocking 5 million monthly uniques (citing Google Analytics number in the Network18 annual report). The company apparently clocked 7.7 million total visits, up 40% from 5.5 million visits in December 2011, as per comScore metrics.
The company had reported revenues of Rs 52.62 crore for the year ended March 31, 2013 (FY13), up 78.55% from Rs 29.47 crore revenues in FY12, and an increase in profit to Rs 3.23 crore for FY13, up 122.76% from Rs 1.45 crore profit in FY12.
In March 2013, Bookmyshow had acquired the Chennai-based ticketing portal Ticketgreen for an undisclosed amount. The company had informed that this acquisition will provide them with access to over 100 regional cinemas in the southern part of the country and strengthen its footprint in that geography.
Corrigendum: an earlier version of this post incorrectly mentioned the total number of screens for BookMyShow+PVR+Cinemax at 1648 screens.