Seventymm.com
August 27, 06 by Bharani
As I was skimming through the Business Today and Business World magazines, one
thing caught my attention: The entrepreneurial revolution of sorts happening in India currently, especially on the technology front. The steep rise in the investments received from some of the world’s best VC is a clear indication of the business opportunities, conducive climate, confidence, ideas, talent and entrepreneurial spirit that is abundant in India.
Well…one such internet start-up that I came across is bangalore-based www.Seventymm.com, India’s first online movie rental service. The business model is traditional. Free-delivery, Free-pickup…only change is in the commodity being delivered..Not pizzas..but DVDs/VCDs. But the twist given to the business model is interesting. You can keep the DVD as long as you want which potentially eliminates any late charges..That’s cool…Moreover they deliver two movies at a time.
How about the collection of movies? They have an awesome collection of movies, numbering to almost 10,000 titles and spanning 9 languages.
How about the cost? There is a one-time registration Fee of Rs.499/= and a refundable deposit fee of Rs.999/=. Two plans are on offer today. The Basic plan costs you Rs.199 every month and allows you to borrow 4 movies per month. The Unlimited plan costs you Rs.549 every month and puts no restriction on the number of borrowings. So it works out to Rs.50/ per DVD in the basic plan. If you are a movie aficionado who can watch a movie per day, then the Unlimited plan is a boon (Works out to Rs.18 per DVD)
The marketing gimmick they employ is called “FREE FOR SIX”: You refer 6 friends to join the service and you get movies for free…for ever! Depends on the well-known “Network effect”.
Currently the service is available only in Bangalore. (How I envy the guys living in Bangalore?). Waiting for the day when this service hits Hyderabad…!
Similar services:
www.clixflix.com
www.catchflix.com
www.homeview.in
www.hindiflix.com
balu Says: 28.08.06 at 2:37 am
no house-warming ceremony and food for the guests?!
this looks good. nice photo too. keep blogging!
Amit Says: 28.08.06 at 6:26 am
So Bharani.. 70mm.com’s model is still to figure out the key question facing all Netflix aspirers in India - wot about Piracy? See your post below this one. You speak about seeing one movie whose VCD your friend has bought. Ask him the price & see whether he was willing to *rent* it on the conditions 70mm & others are proposing. This is where I guess model breaks down. Writing this because my COBE proj at ISB was on this. :o)
Bharani Says: 28.08.06 at 7:45 am
Balu…Thanks..I will try to provide food for thought
Amit, I was actually thinking about you when I wrote this post. (I remembered your previous comment about Cinemaparadiso). Yes, your point about piracy is very valid and is a business-killer. But then, you should look at this is a very niche business. People who are net-savvy, classic-movie-lovers and lazy(?) are the ones who can/will opt for this service. I believe, these people will not be a source of piracy…
To find out how viable this business is, someone should dig up the financial statements of these companies…
Bharani Says: 28.08.06 at 7:52 am
“Whether you are willing to rend it on the conditions of 70mm & others are proposing?” I will redirect this question to Vikram (Clickie). Vikram, if you read this, please throw some light…:)