Insider Paytm Sells Entertainment Business Going Out
During high traffic matches, online ticketing platforms face a lot of glitches. Insider paytm aims to resolve this issue by offering queued ticketing feature. Cricket fans embraced this feature with enthusiasm. The acquisition of the event booking and ticketing business by Zomato is a big step in strengthening its ‘going out’ business. This is a part of the company’s strategy to create a unified consumer experience.
Insider Paytm-Ticketing Business
Insider Paytm’s decision to sell its entertainment ticketing business underscores the company’s focus on core payments and financial services distribution. In recent quarters, the company has expanded into insurance, equity broking, and wealth distribution, and it sees significant opportunities to cross-sell these services to its user base.
The deal will give Zomato a leg up in India’s online movie and event ticketing market, which is currently dominated by Reliance-backed BookMyShow. The food delivery firm has already been active in this space through its order-ahead service and event listings app Zomato Insider paytm.
The transaction will also allow Zomato to scale its offerings in the travel and hospitality sector, where it already has a strong presence. The acquisition will allow the company to offer discounts on hotel rooms, flight tickets, and even car rentals.
In addition to this, Zomato will also gain access to a large database of movie and event tickets that will help it expand its own offerings in these categories. This is a key feature that will enable it to compete against other major online ticketing platforms, including the likes of BookMyShow and Snapdeal. In the past, the company has used this data to offer users curated recommendations and deals on movies and events.
Competition
The Going Out business is Zomato’s third pillar of growth, after food delivery and quick commerce. It aims to offer users a single platform for discovery and booking of events, concerts, and experiences. The business is backed by strong competition from the likes of BookMyShow, Eventbrite, and Kyazoonga. The company also faces competition from new entrants such as Snapdeal and Swiggy.
The acquisition of Paytm Insider paytm gives Zomato a significant boost in the events and entertainment segment, which will complement its existing food delivery and restaurant discovery services. The acquisition will help the company build a full-blown going out vertical and scale up its overall revenue and profit.
Zomato’s move to expand its presence into the events and entertainment space may challenge established players such as BookMyShow. However, the company’s strong base and profitability in the quick service sector will help it overcome the challenges of a new market.
The acquisition of TicketNew and Insider paytm will allow Zomato to leverage its customer base to increase its presence in the entertainment space. In addition, the acquisition will boost the company’s profitability and its cash flow. The deal will also enable the company to expand its presence in Tier 1 and 2 cities. The transaction is expected to close in the next few weeks. It will involve a transfer of shares in Orbgen Technologies and Wasteland Entertainment, the subsidiaries that run the TicketNew and Insider paytm platforms, to Zomato.
Revenue
Insider Paytm generates revenue from a variety of sources, including transaction fees charged to merchants and convenience fees paid by users. It also earns subscription and volume-based fees for cloud and software solutions, as well as revenue from advertising partners. Paytm’s diverse revenue model ensures stable and sustainable growth.
Movie and event ticketing is a high value use case for Paytm’s wallet, especially given that users often visit such venues multiple times. This provides an opportunity for the company to grow its market share in this vertical and potentially challenge the decade long dominance of BookMyShow.
Moreover, the company’s growing GMV (gross merchandise value) reflects an increasing adoption of mobile payments in India. This metric is a key indicator of user engagement and loyalty.
In the financial services segment, Paytm continues to expand its merchant loan distribution and embedded insurance offerings. The company is also focusing on equity trading, further diversifying its revenue streams.
Zomato’s acquisition of Paytm Insider paytm represents a significant step toward a unified experience for food and entertainment. The deal is expected to boost the value of Zomato’s existing platform and increase its user base. It will also help Zomato compete with BookMyShow in the movie ticketing space.
Growth
The e-commerce giant’s revenue has grown at an impressive rate, thanks to a booming digital payments sector. This is boosted by the company’s massive base of customers and its extensive network of retailers. Moreover, its payments business has expanded into high-ticket loans and insurance services, thereby enhancing the firm’s profitability.
In the coming years, one 97 Communications is looking to strengthen its payment leadership by targeting new use cases and devices. It is also focusing on the growth of its financial services distribution business to drive monetizable incremental customer acquisition.
Its recent resurgence is a testament to the industry’s buoyant traction, especially during times of crisis such as demonetization. This is why it’s imperative that companies look into a range of factors that can help them drive growth.
The biggest challenge is finding a profitable niche. In addition to ensuring that your product is relevant and easy-to-use, you need to focus on cost management and revenue optimization. Costs include marketing, sales, and employee expenses, while revenues can be boosted through data-driven strategies and cross-selling. In addition, you should optimize your infrastructure costs by leveraging the latest technologies and streamlining non-core functions. These activities can be very cost-effective and lead to higher profits. However, you should not lose sight of your core business and its value proposition to ensure your success.
