Amazon in an exclusive pact with BookMyShow while watching the super application game
BENGALURU: Amazon has signed an exclusive agreement with BookMyShow where the latter will boost the issuance of movie tickets on the electronic retailer's platform, the companies said. This is part of Amazon's strategy to build a proposal similar to a super application in Amazon Pay, the company's payment unit that has an electronic wallet and is available in the Unified Payment Interface (UPI), with digital payments in the center of it. .
Amazon has already started booking flights on its platform with Cleartrip and there will be additional categories in Amazon Pay after BookMyShow Offer .
Basically, the idea is that Amazon consumers can make use of the services within the company's application or website without having to resort to other platforms when linking with third parties. Companies like PhonePe have also incorporated a similar set of applications in sectors such as travel, food and others. The companies did not disclose the terms of the agreement for this agreement.
For BookMyShow, this would mean that the company would have access to a new set of users due to Amazon's broad reach. BookMyShow said it currently has an annual fee of 200 million tickets sold through its platform, which has 6,000 screens across the country.
“The sale of movie tickets is a case of high consumption and high frequency use. With this association, we seek to accelerate the trajectory of both companies. For Amazon, there will be greater adoption of Amazon Pay, while BookMyShow will have access to solvent customers such as Prime users, ”said Mahendra Nerurkar, director of Amazon Pay India.
In line with Amazon's approach so far with payments, it will encourage consumers to grow this business in the hope that they will eventually spend more to buy on Amazon's platform. To put a perspective, Amazon Pay India experienced losses of 1,161 million rupees at the end of March 2019 compared to 334 million rupees a year ago. This was due in large part to the money back he has been offering to consumers here, competing against PhonePe, Paytm and Google Pay.