Wednesday announced an agreement to acquire Quantum Loyalty Solutions, owner of “movie currency” service Hollywood Movie Money.
The deal is aimed at expanding Fandango’s
promotional movie ticket and gift-card business on behalf of clients that include studios, exhibitors and advertisers seeking to draw moviegoers into theaters. It’s also part of the company
effort to move beyond just selling tickets into generating advertising around reviews and other editorial content, as well as producing video promos.
Studios, exhibitors and marketers use
Quantum’s Hollywood Movie Money certificates as a promotional currency for ticket giveaways and discounts accepted at more than 36,000 screens nationwide. As a result of the acquisition, the
service will be incorporated into Fandango’s Web site and mobile apps and allow users to redeem certificates at 95% of U.S. theaters.
“We look forward to working with the
Quantum team to build on Hollywood Movie Money’s momentum and help drive even more movie fans into theaters,” stated Fandango president Paul Yanover.
The company, which provides
online and mobile ticketing at 21,000 theaters, has seen especially strong gains on the mobile side over the last year or so. Fandango’s mobile ticket sales were up 75% this summer, compared to
last year, in what’s likely to be a record season for Hollywood: $4.6 billion in domestic box office grosses.
Terms of the Quantum deal, expected to close in the third quarter, were