Online movie and event ticketing company BookMyShow has partnered with PVR cinemas to sell tickets worth over Rs 1,000 cr over the next five years on Bookmyshow, the company said.
In a statement, Bigtree Entertainment Private Limited, the holding company of BookMyShow.com, said that the web company will market and sell tickets of PVR cinemas over its web, mobile and affiliate channels.
PVR Cinemas operates its own web portal to sell tickets as well. Bigtree will help PVR in setting up its technology back end too.
In August last year, early and growth stage venture fund Accel Partners had picked up a stake in Network 18 owned Bigtree Entertainment for a total of $ 18 mn (Rs 100 cr). Network 18, which owned 60 % of Bigtree has offloaded a minority stake worth Rs 66 cr to Accel Partners which also picked up an additional stake in the company through a primary issue taking its total investment to Rs 100 cr.
BookMyShow acquired Chennai based Ticketgreen, a smaller rival with over 100 cinemas in South India for an undisclosed amount in March this year.