Fandango Buys Peru-Based Online Ticket Seller Cinepapaya
Fandango just broadened its reach in Latin America by acquiring Cinepapaya, a Lima, Peru-based online movie ticketing company.
Comcast’s online ticket sales operation says that this deal, on top of last year’s pick up of Brazil’s Ingresso.com, will “nearly double” the number of consumers it could serve by adding Mexico, Argentina, Colombia, Peru, Chile, Ecuador and Bolivia. Cinepapaya has deals with theaters in these countries that collectively have 1,200 screens.
The purchase continues Fandango President Paul Yanover’s acquisition campaign which earlier this year included M-GO and Flixster/Rotten Tomatoes.
Cinepapaya sells tickets on sites that attract potential buyers with movie-related content and a social network.
It also sells ticket validation and business intelligence software packages to exhibition chains including Cinemark, Cinepolis, Cine Colombia, Cinestar, and Cine Pavilion.
Cinepapaya CEO Manuel Olguin says that his company “has been enhancing the moviegoing experience for millions of users” while it helps exhibitors “stay ahead of the latest technological trends.”
Fandango says that mobile devices account for more than 70% of its ticket sales in the U.S.
Comcast’s financial reports don’t break out results for Fandango, part of NBCUniversal’s Filmed Entertainment unit. But the cable giant says that a 25.7% increase in the operation’s “other” revenues for the first nine months of this year, to $665 million, was “primarily due to increases in revenue from Fandango.”
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