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MovieMart takes online DVD rental service national; eyes Rs 400 cr revenues over 5 years

27-June-2008
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MovieMart takes online DVD rental service national; eyes Rs 400 cr revenues over 5 years

Online DVD rental service is gaining popularity in the country, a fact seen from the encouraging growth registered by players like MovieMart, Seventymm, and Reliance ADAG’s BigFlicks. MovieMart has now expanded its service pan-India and is targeting revenues of Rs 400 crore and a customer base of one million subscribers in the next five years.

MovieMart is planning to set up outlets in Mumbai, Bangalore, Chennai and Kolkata, and also looking at entering Tier-2 cities through the franchisee route. The company is serving 300 cities and aims at acquiring 10 per cent market share in the DVD sales.

The company further plans to invest Rs 50 crore in capacity enhancement and for marketing and brand promotion activities over the next two years. The company has reached the position through word-of-mouth, online and e-mailers. But in future, it plans to opt for print, TVC and radio as a medium for promotion.

MovieMart is also planning to include more verticals to the company like movie downloads on the website, DTH, television software and movie production. The company is currently in talks with various venture capital firms for funding.

Rahul Mansharmani, CEO, MovieMart, said, “We will make sure our DVDs are delivered safely and on time using TNT’s integrated air and road network. Currently, we are delivering satisfactorily to an average of 10,000 customers in Delhi and the NCR on a daily basis. They are our highly satisfied customers, which can also be verified from the testimonials on our website.”

“We are the only ones in the world to let the customer to choose their own movie and creating the market to beat piracy,” he said, adding that the competitors in the online DVD segment included Seventymm, and Reliance ADAG’s BigFlicks.

The company has already begun selling DVDs and VCDs online, which are available at 15 per cent discount on MRP. As per the company, the orders are shipped within 24 hours by the courier company to all over the world, depending up the availability. Also, MovieMart has included a new section on the website called ‘Pick Your Choice’ for all customers.

Also read:

For online DVD rentals, the picture is big

Reliance Entertainment’s Big Flicks looks at volumes with low-cost DVDs

Seventymm bets big on home video space

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