Mobile ticketing platform Atom Tickets has raised $50M in Series B round financing. 20th Century Fox, the Walt Disney Company and Lionsgate are the lead investors, but do not account for all of the funding.
Atom Tickets allows moviegoers via an app to buy advance tickets, concessions and skip the line at the theater. Upon arrival, moviegoers scan their QR codes 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, Atom Tickets co-founder and Executive Chairman in statement. “By bringing convenience to consumers and innovation to theaters, we will enhance the movie-going experience and bring additional revenue to studios and exhibitors.”
“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,” said Kevin Mayer, chief strategy officer of The Walt Disney Company. “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.”
“Our innovative e-commerce platform utilizes cutting edge data analysis and targeting techniques to help connect movie-goers to films that they and their friends will love,” added Ameesh Paleja, Atom Tickets co-founder and CEO.
“This is an exciting opportunity for us and more importantly, for our audiences,” said Jim Gianopulos, chairman and CEO, 20thCentury 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.”
“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. “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.”
Established in 2014, Atom Tickets’ Series A funding was led by Lionsgate. The app can be downloaded at the Apple App Store and Google Play. It is currently available in select test markets, with a national rollout planned for later this year.