India|February'2009: ‘Recession ‘is the term that defines decline in the countries gross domestic product, thereby resulting into economic slowdown. Recession is not an overnight economic crisis; it is a slow steady process that sprawls far and wide touching every aspect of human life. Though the genesis of the current economic downturn was at Uncle Sam’s, since we live in a global village now, tremors are felt everywhere. People have become more cautious about spending money and expenditures in many non-core areas are being curtailed.
 
But, life must go on. Consumers are increasingly looking at various cost effective avenues for entertainment that fits into a certain revised budget. The organized movie rental companies that reach entertainment to consumers’ doorstep at a minimal cost is emerging as a popular avenue. Companies like Seventymm have recorded an increase in average rental from 10%-12% (corresponding period last year – 2007) to 20%-22% (corresponding periods in 2008). Their members have started renting 5-6 movies a month as against 2-3 movies in past. This points towards a drift from expensive multiplex outings to more home based entertainment where one can enjoy a movie of their choice at their own abode, in the company of friends at a much reduced cost. A wide collection of films to choose from on Seventymm and hassle free access to movies (no pick & drop tensions) have contributed to this trend.

According to Anuj Mukherjee, Vice President, Marketing, Seventymm, "Seventymm offers the entire gamut of 3Cs to consumers - choice, convenience and community. A wide selection of over 18,000 films including world cinema, convenient access points through Internet and telephone, an interactive medium where one can rent as well as discuss movies have made Seventymm the popular choice. To suit every pocket, we have very reasonable & flexible subscription plans & offers that consumers find quite attractive. All these factors put together have made as favoured entertainment medium in these tough economic weather."

Seventymm is currently India ’s largest movie rental service providing a complete interactive platform for movie-buffs. The Seventymm service is currently available across  Bangalore , Delhi & NCR, Chandigarh , Mumbai, Hyderabad and Chennai. By using this service, movie enthusiasts can enjoy an original print of their favourite film in the comfort of their homes at a minimal cost without the hassle of picking-up and returning of movies. The company is founded by serial entrepreneur,  Raghav Kher and widely touted as one of the successful online, entertainment concepts in India . 
 
Seventymm offers more than 18,000 titles covering Hindi, English, Kannada, Tamil, Telugu, Malayalam, Bengali, Marathi, Gujarati, Bhojpuri, Oriya, Punjabi and Rajasthani movies. World Cinema, TV shows and award winning documentaries are also a part of the offering.
 
The users have flexible subscription options under the three subscription plans – one DVD Basic, one DVD Unlimited and the two DVDs Unlimited plan. Seventymm has an efficient and reliable logistics infrastructure which delivers and pick-up movies from the consumers’ doorstep absolutely free.
 
Seventymm was launched in 2006 in India has since evolved from a mere movie renting portal to an interesting ‘Hangout with Movies’ where movie buffs can now discover, enjoy, share and indulge in the world of movies. There are a lot of fun stuff like celebrity quizzes, film news and gossip, blogging and social networking, photo galleries and more, apart from renting out movies. The latest addition is the – X Box games which the consumers can now rent for as low as Rs. 199/-.
 
Till date (October,2008), Seventymm has received a total funding of Rs. 92 crores by leading venture capital firm Draper Fisher Jurvetson and Matrix Partners India Ltd and NEA Indo – US ventures respectively.
 
Seventymm is managed by an experienced team of professions with commendable corporate & FMCG backgrounds. Eric Meyers, Founder of Netflix – America ’s iconic online movie rental company is an advisor on Seventymm board. 

Reachout's News Bureau
 February' 2009