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रविवार, 5 अगस्त 2018

PVR, India's leading multiplex

PVR, India's leading multiplex

PVR, India's leading multiplex chain operator, has renewed the non-exclusive agreement with online platform bookmix and PetiM for up to three years for the sale of its film tickets across the country; deals will fetch at least Rs 410 crore.

The sources said that after signing a contract with Petty for a special contract, the agreement reached.

The company said on Thursday in the stock exchange, "PVR will get advance advance of Rs 350 crore from two aggregators." "PVR Ltd is entitled to receive these aggregators, Rs. 410 crores for minimum guarantees and ticketing list of PVR cinema, refund security deposit for booking on their online ticket platform."

PVR stock intraday trade increased by almost 10% before the BSE closed down 6.8% with a fall of Rs 1,179.10.

According to the people familiar with the deal, Bookmisho is expected to pay Rs 235 crores to PVR, while Petty will pay more than Rs 175 crores. Petmey and Buchmisho did not respond to email questions sent by ET till the time of printing.

According to two people familiar with the talks, the PTM was in talks with PVR for a special ticket partnership. According to one person, the PTM had offered Rs 500 crore to PVR for a special partnership - according to one person, now he will pay three times the amount. The reason for the failure of the negotiation was not known.

A special partnership with PVR has given significant impetus to both Petty and Bukmisho, who is battling for leadership in the online entertainment ticketing location.

A large part of ticket sales for BookMyShow and Paytm comes from PVR, which operates 634 screens in 136 properties in 53 cities and expects to complete 2018 with 650 screens across India.

PVR gets more than 50% of its revenue from online ticket channels and its own website. Consolidated revenues from operations in the year ended March 2018 were Rs 2,334 crore.

According to sources, about 25% of PTR's sales come from PVR, where 4-6 million tickets are sold every month. Patyam recently acquired the Chennai-based online movie ticketing platform Ticket News from Alibaba Pictures to establish its presence in South India.

Bookimsho, who raised TPG Growth, Strips Group and Network 18 to 100 million dollars in July, sell 12-15 million tickets per month with more than 30 million subscribers. BookMyShow's latest investment round valued at $ 850 million

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