Atom Tickets Gets Additional $60M Funding

Theatrical moviegoers may be decreasing, but the battle to sell them tickets online is escalating.

Atom Tickets March 8 announced it secured more than $60 million in new capital from Fidelity Management & Research Co. – less than two years after raising $50 million in funding from Lionsgate, The Walt Disney Co. and Twentieth Century Fox Film, all of whom contributed to the new investment.

The funding comes as Atom competes with NBC Universal-owned Fandango and subscription ticket service, MoviePass, to establish market share as gatekeepers in the margin-challenged theatrical business.

Launched in 2016, the Atom Tickets app tripled its users and ticket sales in one year. The service features advance ticket purchasing, the ability to invite friends and sit together while paying separately and concessions ordering.

In the last year, Atom Tickets formed an advisory board with Steven Spielberg, J.J. Abrams, and Tyler Perry, among others. It teamed with T-Mobile and Chase Pay offering special ticketing offers, making purchasing tickets faster and more social.

Atom also partnered with studios to better connect them with moviegoers using proprietary data and targeting capabilities on Atom and across the web.

Exhibitor partners include AMC Theaters, Regal Cinemas, Southern Theatres, Showcase Cinemas, B&B Theatres and online movie database, IMDb.

“We’re pleased to participate in this latest round of financing for Atom Tickets, which has demonstrated enormous traction with exhibition partners, studios, and moviegoers during the past year,” Michael Burns, vice chairman at Lionsgate, said in a statement.

Leave a Reply

Your email address will not be published. Required fields are marked *

one × two =

This site uses Akismet to reduce spam. Learn how your comment data is processed.