MOVIE TICKETING BUSINESS
Adani joins Tata and Ambani in race for elusive India superapp
Given the limited traction gained by Ambani’s MyJio and Tata’s Neu despite their wider range of consumer businesses, the Adani Group — whose businesses are largely infrastructure and heavy industrial ones — may have set itself a daunting task.
Amazon tops up India payments business with Rs 600 crore
Amazon Pay India intensified competition with Paytm, PhonePe, and Google Pay, receiving a capital infusion of Rs 600 crore. The company invested Rs 950 crore in the platform and Amazon Seller Services, facing challenges due to RBI actions. With tie-ups for various services, Amazon Pay India reported significant operational revenue and narrowed net losses.
Zomato in talks to acquire Paytm's movies, ticketing business; deal pegged at around Rs 2,000 crore
Zomato’s interest in acquiring Paytm's events and movie ticketing business is in line with the Gurgaon-based company's efforts towards capturing consumer demand across categories like food, grocery and entertainment. If the transaction goes through, it will be the second biggest acquisition for Zomato after it acquired quick commerce platform Blinkit in 2022 in an all-stock deal for Rs 4,447 crore.
Paytm shares fall 3% amid reports of talks to sell movie ticketing business to Zomato
If the deal 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 in 2021 in an all-stock deal valued at Rs 4,447 crore.
Zomato confirms discussions to acquire Paytm’s movies, ticketing business
Zomato confirmed in a stock exchange filing that it is in talks to acquire fintech Paytm's ticketing business, as reported by ET on June 16. The company added that "no binding decision" has been taken about the deal at this point. The deal could value the Paytm vertical at around Rs 1,600-1,750 crore.
Zomato-Paytm ticketing deal; Oyo’s Rs 1,000-crore funding
Zomato is looking to strengthen its ‘going-out’ business with the acquisition of Paytm’s ticket booking and events business. Details on this, and more in today’s ETtech Morning Dispatch.
Paytm likely in talks with Zomato to sell movie ticketing business
Paytm is in advanced talks to sell its movie and events ticketing business to Zomato amid declining sales. The move is part of Paytm's revival strategy after reporting its first sales decline, triggered by regulatory actions. The potential sale aims to help Paytm refocus on core businesses like travel and cash backs.
Taylor Swift, Virat Kohli & BTS: PVR Inox shuffles its box of tricks to stay relevant
PVR Inox shifts strategy with cricket and concerts amid low footfall and revenue in Q4FY24. Despite challenges from elections and IPL, the diversification aims to sustain growth. The cinema chain eyes southern India for screen expansion, banking on regional content's success. Analysts, however, foresee a tough FY25 for PVR amidst operational hurdles.
IndiGo, Air India upgrade playbooks to keep up with India's rising middle class
India's rising affluence is driving a significant shift in the lifestyle of the middle class, with a growing preference for premium products and experiences, both on the ground and in the sky. Airlines are capitalizing on this trend by offering luxurious amenities to cater to the surging demand, such as roomier seats, gourmet meals served on designer tableware, and lavish vanity kits.
PVR Inox looks to grow pre-ticketing F&B biz post its JV with Devyani
PVR Inox has partnered with Devyani International to expand into the food and beverage sector. Devyani will hold a 51% stake, while PVR will have 49%. This joint venture aims to boost pre-ticketing F&B revenue through branded food courts adjacent to cinemas. In FY24, PVR Inox's F&B sales rose 21% to Rs 1958 crore. The company plans to open 5-6 food courts initially. PVR Inox is also shifting to a capital-light model, reducing capex and adding new screens through a franchise model.
Movie theatres cut down shows as films fare poorly
According to various estimates of trade analysts, multiplexes having five to six auditoriums are restricting shows to two or three, while some single-screen theatres are temporarily shutting operations, due to poor business and large expenses associated with running them.
Success of 'Crew' proves that women-led movies can also break BO records, feel Kareena Kapoor Khan
Going forward, Kareena said she will continue to associate herself with projects that "break norms".
BTS’ Suga’s concert film‘Agust D's Tour D-Day: The Movie’ ranks 2nd at US box-office, mints over $900K
The concert film is dominating the charts even on its home ground. 'August D Tour D-Day' boasted the highest week-long movie reservation rate prior to its debut. Additionally, according to an All K-Pop report, the exclusive cold cup merchandise for 'D-Day The Movie' and 'Goods TTT (That’s The Ticket)' flew off the shelves within minutes, selling out rapidly like hotcakes.
Godfrey Phillips to exit retail business division ‘24Seven’
Tobacco manufacturer Godfrey Phillips India Ltd has decided to exit its retail business division, 24Seven, after a negative net worth as of March 31, 2023, following losses. The decision was made after a thorough review of the division, considering stakeholders' feedback, long-term performance, market conditions, and long-term business strategy.
Luxury at 30,000 ft: Flight plan takes a premium turn as airlines pamper the high-flying customer
After two sluggish years due to the pandemic, airlines have not only seen a rousing revival in corporate travel, boosting occupancy in the business class, but also a new class of leisure travellers willing to spend more for extra legroom and other perks. Travel portals are also responding to this change, with the likes of MakeMyTrip setting up a separate funnel on its website for business class tickets where customers can preview visuals of cabin comfort, meals, lounge access and other amenities.
'Barbie' success and Marvel struggles may signal a shift for movies
Even though the Avengers series saw three releases this year, none of came in top 3 releases of the year. "Barbie," "The Super Mario Bros. Movie" and "Oppenheimer" ruled the box office year. The last time this happened was in 20021 when "Harry Potter and the Sorcerer's Stone," "Shrek" and "Monsters, Inc." topped the box office.
Taylor Swift: The Eras Tour: Release date, tickets, box office collection prediction
"Taylor Swift: The Eras Tour" movie is releasing on Friday. The box office prediction for the movie is outstanding.
Taylor Swift's 'The Eras Tour' movie expected to disrupt traditional movie business in US
Movie theatres are preparing for the release of 'Taylor Swift: The Eras Tour', a concert film expected to launch with over $100 million in ticket sales. The film marks a new trend in the industry, as big stars like Swift and Beyonce are bypassing Hollywood studios and making deals directly with theatres.
'Taylor Swift: The Eras Tour' will be a blockbuster - and might shake up the movie business
Movie theaters are preparing for the release of "Taylor Swift: The Eras Tour," a concert film that is expected to debut with $100 million in ticket sales. The film, compiled from Swift's shows at SoFi Stadium, marks a new trend in the industry as artists like Swift and Beyonce are bypassing Hollywood studios and releasing their films directly in cinemas.
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