Asia

Paytm reportedly considers sale of movie and event ticketing business

Featured Image: Lee Blanchflower on Unsplash

Indian financial technology company Paytm is reportedly discussing the possibility of selling its movie and event ticketing business to food delivery firm, Zomato. 

According to Bloomberg, Paytm is considering a potential transfer of its entertainment business, but has not yet secured any binding agreements. The company reportedly made the note in a stock exchange filing over the weekend.

Last month, the company reported its first-ever drop in sales. The move would let Paytm focus on other areas to increase its revenues, including travel, deals and cash backs.

Paytm Insider – the events discovery platform of Paytm – holds a number of ticketing partnerships with cricket teams in the Indian Premier League (IPL).

Zomato would not be the only delivery company to venture into the ticketing industry in India – in May, Kolkata-headquartered multi-vendor delivery app Odroo was named a partial ticketing partner of the IPL for its remaining games leading up to the final on May 26.

TheTicketingBusiness has contacted Paytm for comment.

Posted in AsiaTagged | |