Disney, Fox, Lionsgate invest $50 million in Atom Tickets

MUMBAI: Three Hollywood studios namely The Walt Disney Company, 20th Century Fox and Lionsgate have invested $50 million in a theatrical mobile ticketing platform and app company Atom Tickets.

Atom Tickets is a social, mobile ticketing platform designed to make movie-going simple. Movie fans can use the service to purchase tickets and concessions, coordinate and invite friends without having to pay for them, and skip the lines at the theater. The app is available in both the Apple App Store and Google Play Store.

“We’re thrilled to partner with some of the most forward-thinking media companies, exhibitors and trailblazers in the entertainment business. By bringing convenience to consumers and innovation to theaters, we will enhance the movie-going experience and bring additional revenue to studios and exhibitors,” said Atom Tickets co-founder and executive chairman Matthew Bakal.

“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, but also helps movie studios and theaters by providing deep consumer insights, advanced analytics, and concession and ticket couponing,” added The Walt Disney Company chief strategy officer Kevin Mayer.

"Our innovative e-commerce platform utilises cutting edge data analysis and targeting techniques to help connect movie-goers to films that they and their friends will love,” said Atom Tickets co-founder and CEO Ameesh Paleja.

“This is an exciting opportunity for us and more importantly, for our audiences. 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,” said 20thCentury Fox chairman and CEO Jim Gianopulos.

“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. More than four billion seats go unsold in theaters 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," said Lionsgate vice chairman Michael Burns.

Established in 2014, Atom Tickets’ Series A funding was led by Lionsgate. The app is currently available in select test markets, with a full national rollout planned for later this year.

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