Disney, Fox, Lionsgate Leading $50 Million Into Mobile Ticketing App
Disney, Fox and Lionsgate are teaming to lead a $50 million investment in the Atom Tickets mobile ticketing app that will roll out later this year.
Atom Tickets is touting itself as a platform designed to make movie-going simple that can be used to pre-purchase tickets and concessions, coordinate and invite friends without having to pay for them and skip the lines at the theater. The app has been rolled out in test markets and is available free on the Apple App Store and Google Play.
“We believe that Atom Tickets has the potential to revolutionize the way audiences go to the movies, and we’re delighted to partner with blue chip studios like Disney and Fox in this cutting edge initiative for the theatrical business,” said Lionsgate vice chairman Michael Burns.
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The app also provides reviews, trailers and synopses. When they arrive at the theater, consumers scan their codes at tablet scanners at the usher and concession stands.
“We’re thrilled to partner with some of the most forward-thinking media companies, exhibitors and trailblazers in the entertainment business,” said Matthew Bakal, co-founder and executive chairman of Atom Tickets. “By bringing convenience to consumers and innovation to theaters, we will enhance the movie-going experience and bring additional revenue to studios and exhibitors.”
Two-year-old Atom Tickets said Sunday it has completed a Series B round of financing from investors that includes the three studios. Lionsgate led the Series A funding.
Kevin Meyer, Disney’s chief strategy officer, said, “The Atom Tickets app and platform is bringing innovation to the ticketing market by empowering social networks and mobile devices to make the movie-going experience seamless and convenient. Their technology not only adds value to the consumer, they will also help movie studios and theatres by providing deep consumer insights, advanced analytics, and concession and ticket couponing.”
Ameesh Paleja, CEO of Atom Tickets, said the platform utilizes “cutting edge” data analysis and targeting techniques to help connect movie-goers to the specific films consumers want to see.
“This is an exciting opportunity for us and more importantly, for our audiences,” said Jim Gianopulos, chairman and CEO, 20th Century Fox. “Atom Tickets provides an enhanced social experience for consumers to discover and purchase tickets to movies, designed for ease of use on mobile devices. Atom’s unique interface and integration with movie fans’ social networks creates a streamlined, fun way to go to movies with friends.”
Burns also said that the app could set the stage for dynamic ticket pricing. “More than four billion seats go unsold in theatres each year, and Matthew, Ameesh and the Atom team have developed a state-of-the-art app that offers exciting new opportunities to pre-purchase tickets and concessions as well as paving the way for the successful introduction of dynamic ticket pricing,” he said.