Paytm Movies aims to contribute 50% online share of opening weekends by end-2017

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Online ticket platform Paytm Movies today said that its movie segment is aiming to contribute 50 percent to the opening weekend online collection of leading Hollywood and Bollywood Movies by end 2017.

Paytm Movies aims to contribute 50% online share of opening weekends

"We are thrilled to have a great start to 2017 by achieving blockbuster sales for key movie releases. Our aim this year is to contribute more than half of opening weekend online collection for all major movies. We will continue working with all move theatre chains to increase online ticket sales by promoting them aggressively amongst our vast user base." says Renu Satti, Vice President - Paytm.

According to the statement by the company, Paytm Movies has received more than Rs. 400 Crores in GMV within a year of launch, which contributed more than 20 percent to the opening weekend collection of all major Hollywood and Bollywood movies and the platform is garnering major traction from tier II and tier III cities by upgrading traditional offline ticket booking systems in local theaters to online ticketing.

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"Today Paytm's online movie ticketing service is available on more than 3500 screens across 550 cities and the platform's pan-India distribution reach has led to it currently accounting for around 20 percent share of opening weekend box-office collection for most movies," a statement added.

Meanwhile, the company recently said that Baahubali 2: The Conclusion, which has been on a record-breaking spree, has emerged as the highest grossing movie on Paytm Movies. The film has been experiencing a strong demand in over 3,500 screens across 520 cities in India. This is more than any other movie on Paytm.

The company is expected sustained demand in the second week, with gross collections likely to cross Rs. 100 Cr on Paytm alone.

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