Fandango Buys Brazil’s Top Online Ticketer Ingresso
NBCUniversal’s company steps into the growing Latin American market with its first international acquisition.
NBCUniversal’s online ticket service Fandango has signed an agreement with Latin American e-commerce company B2W Companhia Digital to purchase its ticketing subsidiary, Ingresso.com, based in Rio de Janeiro, Brazil.
Fandango's first international acquisition is expected to close in the fourth quarter of this year, continuing the NBCUniversal subsidiary's expansion after a partnership with Marcus Theaters, which was announced last April at CinemaCon.
Ingresso is Brazil’s largest online and mobile movie ticketing service, with more than six million registered customers. In addition to movies, the service also sells tickets to concerts, soccer games and cultural events including Rock in Rio, Latin America’s biggest music festival.
By far the largest market in South America, Brazil accounted for 40 percent of the Latin American box office last year, according to Rentrak, and has seen nine continuous years of box-office growth. MPAA predictions put Brazil as the world’s fifth largest market by the end of 2020.
“We see this as an opportune moment to expand outside of the United States,” said Fandango President Paul Yanover. “We are thrilled to work with the talented Ingresso team and build upon their already successful organization. Latin America presents the next logical growth area for Fandango,” he added.