Fandango Competitor Atom Tickets Raises $60 Million
The company boasts an advisory board featuring Steven Spielberg, Tyler Perry and J.J. Abrams.
Atom Tickets, the online movie-ticket service that competes with Fandango, said Thursday it raised $60 million in a funding round led by Fidelity Management & Research Co.
The Series C round of funding comes two years after Atom raised $50 million in a round led by Lionsgate, Disney and Twentieth Century Fox Film, all three of which participated in the most recent round, as well.
Atom, led by CEO Ameesh Paleja, fashions itself as a "first-of-its-kind social movie ticketing" service that allows moviegoers to pre-order concessions and makes it easier for friends to band together for a night out to the theater.
In the past year, Atom formed an advisory board that includes Steven Spielberg, J.J. Abrams and Tyler Perry and has partnered with T-Mobile, Chase Pay and other brands that help streamline the ticketing process.
Atom said Thursday that it services 20,000 screens, about the half the number serviced by Fandango, which is owned by NBCUniversal. Atom launched in 2016 and in the past year it tripled its users and ticket sales, though it has not disclosed specific numbers.
Atom has also partnered with studios so that it can share data to help market films in a way similar to MoviePass, a service that gives subscribers a ticket per day for less than $10 per month.
"We're delighted to add our friends at Fidelity Investments to a blue-chip group of studio and talent partners helping to take Atom to the next level as a ground-breaking force for change in the moviegoing experience," said Lionsgate vice chairman Michael Burns.