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TicketNew: How is the Paytm acquired startup doing in 2020?

TicketNew, a Paytm acquired online ticketing body, has extended its presence pan India, going far-ahead from its 600 screen m
TicketNew, a Paytm acquired online ticketing body, has extended its presence pan India, going far-ahead from its 600 screen mark in 2018, post-acquisition.

The online ticket booking industry has seen its highs and lows during the past decades. What began as a boom, in the beginning, stood low with the entry of online streaming services like Netflix (1) into the market.

Amongst the top ticketing companies like BookMyShow (2), stands a highly successful online ticketing company founded by Ramkumar Nammalvar, TicketNew. Founded in 2007, the online ticketing company works as a ticket selling platform that provides tickets for movies, shows, events, stores, parties, etc.

TicketNew: A Major Player in Tamil Nadu

TicketNew is regarded as one of the most prominent players in the ticketing market in Tamil Nadu. It list movies from cinemas across the country, focussed on expanding single-screen cinema business.

It currently operates in Tamil Nadu, West Bengal, Uttarakhand, Uttar Pradesh, Telangana, Rajasthan, Punjab, Pondicherry, Odisha, Meghalaya, Maharashtra, Madhya Pradesh, Kerala, Karnataka, Jharkhand, Jammu & Kashmir, Himachal Pradesh, Haryana, Gujarat, Goa, Delhi-NCR, Chattisgarh, Chandigarh, Bihar, Assam, Andhra Pradesh, and Andaman.

TicketNews limitless expansion, especially into Tier 2 and Tier 3 cities, has been catalyzed with the increasing usage of internet and smartphone penetration, thereby increasing the convenience of online ticket booking with TicketNew.

Movie Tickets Market in Tamil Nadu

The movie ticket market in Tamil Nadu is estimated to valued approximately Rs 1,350 crore, according to reports (3). In Tamil Nadu alone, over ten crore movie tickets were sold in 2019, with 3.5 crores being sold online.

Chennai, its suburbs in Chengalpet and Kanchipuram districts, account for over 60% of tickets sold online, followed by towns like Vellore, Tirupur, Kumbakonam, and Tirunelveli standing behind.

Paytm Acquisition’s Impact on TicketNew

Orbgen Technologies (4), the parent firm of TicketNew, was acquired by the fintech giant Paytm for an undisclosed sum of money. With the acquisition, Paytm (5) aimed at getting its hands on across the 600 screens owned by the TicketNew firm.

Earlier, Alibaba Group (6) made a strategic investment in the online ticketing firm, which was later bought off by Paytm through its subsidiary Alibaba Pictures (7). Post-acquisition, which took place in 2018, TicketNew has been able to expand its business pan India, making it one of the leading online ticket booking firm.