Hollywood Media Update

Movie Tickets issued its first press release this year. The most interesting part is this

“Today’s deal with Regency builds on MovieTickets.com’s exponential growth over the last year. The number of tickets sold by the company in the first quarter of 2017 was up 62% compared to the same period in 2016.”

Consequently, it looks like the company is growing very fast because more and more people are buying movie tickets online. The longer Hollywood Media waits to sell its stake in MovieTickets.com, the more its stake is going to be worth.

The shares of Hollywood Media did not react at all to this news.

 

MovieTickets.com Bolsters Stronghold in Los Angeles Market with Addition of Regency Theatres

Deal to Add 188 Screens to Company’s Rising Screen Count Furthers Positive Momentum for MovieTickets.com, Having Experienced 62% Year-Over-Year Sales Growth

(Boca Raton, FL, March 28, 2017) – MovieTickets.com, a leading global provider of remote movie ticketing, has signed a deal to begin advance ticketing for Regency Theatres. With the addition of 188 screens in 27 locations across Los Angeles, this deal with Regency gives MovieTickets.com a greater presence within the major market in California where it already represents 400 theaters state-wide. In addition to growing its screen count with the addition of Regency, MovieTickets.com has recently extended its agreements with Missouri’s B&B Theaters’ 401 screens and Larry Miller Megaplex Theatres in Utah, which has 185 screens in total.

“As buying tickets in advance continues to surge in popularity among moviegoers, we actively look for theater chains that will expand our network of ticketable theaters, providing customers with more theater choices and greater convenience,” said Joel Cohen, CEO of MovieTickets.com. “With a majority of its screens in Los Angeles, Regency services one of the key markets in our domestic footprint.”

Lyndon Golin, President of Regency Theatres, added, “As Regency Theatres seeks make its showtimes information and ticketing easily accessible, MovieTickets.com’s wide-reaching platform delivers. As a pioneer in Internet movie ticketing, we are thrilled to be working with MovieTickets.com.”

Today’s deal with Regency builds on MovieTickets.com’s exponential growth over the last year. The number of tickets sold by the company in the first quarter of 2017 was up 62% compared to the same period in 2016.

About MovieTickets.com
MovieTickets.com is a leader in advance movie ticketing with 258 theater chains, representing over 29,000 screens, offering moviegoers a quick and convenient way to purchase tickets online and via mobile devices. The company currently enables remote movie ticketing for consumers across 21 countries/territories including the United States, Canada, United Kingdom, Ireland, Argentina, Puerto Rico, the Dominican Republic and the Caribbean. Fans can stay connected with MovieTickets.com through Facebook (facebook.com/MovieTicketscom), Twitter (twitter.com/movietickets) and YouTube (youtube.com/c/MovieTickets).

About Regency Theatres
Founded in 1996 by brothers, Lyndon and Andrew Golin, Family owned, Regency Theatres with a theater in Camarillo, California, Regency Theatres operates 27 locations in Southern California including the iconic Bruin and Village locations in Westwood Village, California.

Disclosure: Long Hollywood Media

About Mariusz Skonieczny 63 Articles
Mariusz Skonieczny is the founder of Classic Value Investors.