Summary:
With the website’s CEO claiming that it commands a 50% market share, the new scheme is likely to set off a turf war between major players in the ticketing business. Interestingly,Ticketnew’s move mirrors that of Paytm, a digital wallet and e-commerce firm, which began offering discounts on movie tickets, among other products, setting off a turf war with ticketing websites such as Bookmyshow. “SPI Cinemas is strong in Tamil Nadu but they aren’t as popular elsewhere. Sources say the deal works both for SPI Cinemas and Bookmyshow. A business analyst says, “This kind of loss-making discounting is really about taking money from private equity firms and giving it to consumers..