US-based mobile movie ticketing service Atom Tickets has raised $50m in a series B round backed by movie studios Lionsgate and 20th Century Fox, and media and entertainment conglomerate Walt Disney Company.
Atom confirmed the funding, but not the amount raised, in a press release yesterday after the Hollywood Reporter had reported the amount and the identity of the investors on Sunday.
Founded in 2014, Atom Tickets operates an online platform and smartphone app that lets moviegoers purchase tickets, snacks while enabling them to coordinate the best time to see a film with friends. The app allows each user to pay for their own ticket rather than forcing one person to buy them all.
The app is currently available in select markets and Atom plans to roll out the service across the US in summer 2016. The company had previously obtained series A funding from Lionsgate, though it has not disclosed further details.
Kevin Mayer, chief strategy officer of Walt Disney Company, said: “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 theatres by providing deep consumer insights, advanced analytics, and concession and ticket couponing.”