From correspondents in Karnataka, India, 10:49 AM IST
Pioneers and leaders in the organized movie rental business, Seventymm - www.seventymm.com, further reinforce its leadership position by reaching the landmark of 70,000 members. Seventymm launched its operations in 2006 and established the organized movie rental category in India. Over 70,000 members now enjoy the Seventymm service across Mumbai, New Delhi, Bangalore, Chennai, Hyderabad and Chandigarh.
Seventymm currently offers more than 18,000 titles across wide range of genres covering English, Hindi, Marathi, Gujrati, Tamil, Bengali, Kannada, Malayalam, Telugu, Bhojpuri, Oriya, Punjabi and Rajasthani movies, World Cinema, TV shows as well as award-winning documentaries. It is not just about the vast choice, consumers also enjoy the freedom of keeping the movies for as long as they like without paying any late fees.
Seventymm introduced organized movie rental service in India in March 2006 with actor-singer Vasundhara Das becoming the first member. In a glittering event held in Mumbai she now presented the 70000th membership to leading actor Soha Ali Khan.
From just movie rentals Seventymm has expanded its canvas to a movie lovers’ community wherein one can discover, enjoy, share and indulge in the world of movies apart from renting movies of their choice. The recently unveiled new avatar of Seventymm - Hangout With Movies is India's first 'interactive' platform for movies with a host of exciting features, interactive games and informative nuggets aimed at attracting the netizens.
Commenting on this achievement, Raghav Kher, Founder & CEO, Seventymm said, “We had began with a dream of any movie any time anywhere in India and are progressing rapidly towards that goal. Building a 70,000 strong member base is a significant milestone for us and we believe it is the inflection point in our march towards achieving 4 million members over the next 5 years.”
Added Subhanker Sarker, COO, Seventymm, “With its unique model designed to provide a pleasurable user experience at every stage, Seventymm is a benchmark service offering in this space. We aim to be in 40 cities by end of 2009 and offer many more film based entertainment options to our consumers. We will further invest to the tune of $ 15 million over the next 5 years and will continue to provide our consumers with the Choice, the Convenience and the Community benefits that a Seventymm member is used to. ”
According to special invitee, Vasundhara Das, “I have been enjoying the Seventymm service for more than two years now. With a range of over 18,000 titles spanning across multiple genres of cinema, this is a great treat for movie buffs. Hope to see many more current flicks and past gems on Seventymm”
Added Soha Ali Khan, “Movies are passion and profession; I am excited to be a part of this community and look forward to enjoying this vast repertoire of films. I personally feel that Seventymm has contributed immensely to the film industry by building the category of organized movie rentals…movie lovers can now enjoy the original prints of their favourite films in the comfort of their homes. ”
The Seventymm Benefits:
Ø Using the Seventymm service, movie enthusiasts get to enjoy an original print of their favourite film
Ø Flexible subscription plans
Ø No late Fees – Freedom of keeping movies as long as you want
Ø Free Home Delivery and Pick Up
Ø Multiple touch points – through Internet, sms & calls
Ø A recommendation system that helps members to discover and rent movies of their choice
Ø Active film community – members can rate & review films
Seventymm has so far raised over $10million from leading venture capital firms including Matrix Partners India, Draper Fisher Jurvetson and ePlanet Ventures.
Seventymm has heralded organized movie rental service in India and is constantly setting industry standards in this relatively nascent but fast evolving segment. Indian Entertainment and Media (E&M) industry growing at 18% annually will reach the Rs. 1 trillion mark by the year 2012 from the current Rs. 437 billion. The corporatisation of the industry and the Home Video sector will play a major role in this growth. *
*Source- FICCI - PricewaterhouseCoopers 2008 report
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