Atom Tickets raises $60M Collection C for its film reserving app

Fundings and Exits

Atom Tickets, an app that mixes on-line film ticket reserving with social options, stated at present that it has raised a $60 million Collection C led by Constancy Investments, with participation from returning traders Lionsgate, Disney and Twentieth Century Fox Movie. All three studios contributed to Atom Tickets’ $50 million Collection B, which was introduced two years in the past.

Together with earlier funding, Atom Tickets has raised greater than $125 million to this point. After rolling out throughout the USA in 2016, the Santa Monica-based startup claims it tripled its customers and ticket gross sales in a single yr. It at present companions with theater chains together with AMC Theaters, Regal Cinemas, Southern Theatres, Showcase Cinemas and B&B Theatres, amongst others.

In assertion to TechCrunch, Atom Tickets co-founder and govt chairman Matthew Bakal stated “Atom is relentless in its efforts to ship a superior moviegoing expertise. The brand new funding will allow us to innovate upon our product expertise and to create advertising campaigns that interact and delight film followers.”

Atom Tickets’ app exhibits customers details about present motion pictures, together with critiques and trailers. Then they will share listings with buddies and ballot them about what they need to see earlier than buying advance tickets. The app additionally permits customers to ebook group seating, however pay for tickets individually, and order snacks so that they don’t have to attend in line at concession stands. By monitoring what motion pictures customers search for, share with buddies and finally pay to see, Atom Tickets also can present studios with useful information about moviegoers, advertising, promoting concentrating on and ticket gross sales.

Film ticket admissions within the U.S. hit their lowest quantity since 1995 final yr, as a result of underperformance of a number of summer season releases that have been presupposed to be blockbusters. However field workplace gross sales have additionally been harm by the growing variety of streaming video platforms, which give individuals a wider array of leisure choices at a decrease price than film tickets. Atom Tickets provides studios a much-needed new channel for advertising theatrical releases. Its primary competitor is Fandango, which was based in 2000 as a ticket reserving web site and now additionally owns fashionable overview aggregator Rotten Tomatoes. Although Fandango is a well-entrenched participant, Atom Tickets has been gaining traction rapidly because of its partnerships with main film studios, in addition to firms like Amazon, Chase Pay and T-Cell.

Featured Picture: Tobias Weber/EyeEm/Getty Photographs

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