Fandango Ticket Sales On The Rise
"Hunger Games" seems to have the Midas touch; everything it touches is turning into gold. Not only has the movie earned over $152 million at the box office making it the third highest opening weekend ever, but it has also helped other companies it has partnered with rake in the cash.
Fandango, Comcast's online ticketing company known as the nation's leading moviegoer destination, sold 22% of the movie's tickets (selling 60,000 tickets per hour at peak times). This resulted in the highest first quarter earnings the company has had in its 12 years, with ticket sales shooting up to 127%.. Their number of monthly users also increased by 58% and they now sell 23% of all movie tickets sold.
However, "Hunger Games" only came out in the last 9 days of the quarter, so the rise in earnings can also be attributed to Fandango's recent partnerships. The company has partnered with AMC Theaters and Regal Cinemas, adding 19% to its theater network. It also struck a deal with Yahoo that makes it the official movie ticket seller for all affiliates of the network.
"This quarter is a significant milestone for Fandango, and shows the incredible momentum behind the company right now," said Executive Vice President and General Manager Rick Butler to Yahoo. "Our unparalleled reach, product innovations and ability to guarantee seats for blockbusters like 'The Hunger Games,' are significant drivers of this success. We are excited to start off the year from such a strong position, and to be adding tremendous value to our exhibitor and studio partners."
Reach writer Surabhi Srivastava here