×
You will be redirected back to your article in seconds

Fandango Buys Latin American Ticket-Seller Cinepapaya

Online movie ticketer Fandango has bought Latin American ticket-seller Cinepapaya for an undisclosed price, expanding operations into Mexico, Argentina, Colombia, Peru, Chile, Ecuador and Bolivia.

The deal, announced Thursdays, follows Fandango’s acquisition of Ingresso.com in Brazil last year with cinema ticketing up 30% year-over-year. Fandango also bulked up earlier this year by buying Flixster and the Rotten Tomatoes aggregator site.

“This is an exciting time at Fandango,” said President Paul Yanover. “While our business in the U.S. continues to accelerate across online, mobile and social platforms, we are bringing our innovative moviegoing products and services to even more consumers across Latin America. We are currently experiencing tremendous momentum in Brazil, with Ingresso’s significant growth, and with the addition of Cinepapaya, Fandango will emerge as a leading online ticketer throughout Latin America.”

The company said Latin America’s grew 13% in 2015, citing statistics from the Motion Picture Association of America. Fandango also said an online ticketing study published earlier this year by Grand View Research showed that the Latin American online movie ticketing market share is expected to grow at a compound annual growth rate of over 16% by 2022.

Yanover told Variety that Latin America’s middle-class is growing quickly and has a high familiarity with smartphone technology.

“We are thrilled to be part of the Fandango family,” said Manuel Olguin, Cinepapaya founder and CEO.  “Expanding from a single movie theater in Peru in 2013 to more than 1,200 screens in seven countries today, Cinepapaya leads the way in mobile innovation and movie-related content in Latin America.  All along our team has been enhancing the moviegoing experience for millions of users, while helping our exhibitor partners stay ahead of the latest technological trends.”

He added that he expects growth to accelerate with the new ownership. Peru-based Cinepapaya touts itself as offering a turnkey e-commerce solution for theater owners, including ticketing, payment, ticket validation and business intelligence software packages. Cinepapaya’s exhibition clients include Cinemark, Cinepolis, Cine Colombia, Cinestar and Cine Pavilion.

Fandango said its ticketing in the U.S. has gained 40% year-over-year with more than 70% of its tickets now sold on mobile devices for 28,000 screens. It portfolio reaches more than 60 million unique visitors per month, according to comScore, with 205 million app downloads. Fandango operates as a unit of NBCUniversal.

 

Popular on Variety

More Digital

  • YouTube CEO Susan Wojcicki

    YouTube CEO to Burned-Out Creators: Data Shows It's OK to Take a Break From Posting

    Stressed-out YouTube creators anxious that their channels will take a traffic hit if they take a mental-health break shouldn’t worry, according to YouTube CEO Susan Wojcicki: She says a data analysis showed that, on average, YouTubers get even more views when they return after a hiatus. In a Nov. 21 open letter to creators, Wojcicki [...]

  • Apple Computers Logo Placeholder

    Apple Eliminates Customer Reviews and Ratings From Online Store

    Apple has disabled the ability for customers to comment on and rate products on its online store — and the tech giant pulled down all the reviews and ratings that were previously left on the site. It’s not clear why Apple made the decision to kill off user reviews in its ecommerce storefronts. Some observers [...]

  • Google headquartersGoogle headquarters, Dublin, Ireland -

    Google Streamlines Movie Ticket Purchases With Its Assistant

    Google wants to make it easier to buy movie tickets on the web: The search giant has teamed up with Fandango, MovieTickets.com, AMC, MJR Theaters and others to streamline ticket buying across their sites. To do this, Google is making use of its Assistant, which automatically pops up when Android users search for a movie. [...]

  • Harmony-Korine-Duck-Duck-Snapchat-Spectacles

    Harmony Korine Shot a Short Film Entirely With Snap's Spectacles (EXCLUSIVE)

    Director Harmony Korine donned a pair of Snap’s high-end Spectacles 3 camera-enabled glasses to make an experimental short film — transforming Miami into a psychedelic swirl of colors, music and characters. It’s a proof-of-concept project: Snap enlisted the filmmaker to create the 10-minute short, called “Duck Duck,” to showcase the new Spectacles 3 hardware, which [...]

  • Eko - Wizard School Dropout

    Eko Launches Four Interactive Video Series, Including Two to Push Walmart Shopping

    Eko is launching its most ambitious bet yet to close the loop between interactive entertainment and ecommerce, with partner and investor Walmart. The interactive-video platform company debuted four original scripted series Thursday (Nov. 21). Two of them — EffinFunny’s “Wizard School Dropout” (pictured above), set in a Harry Potter-esque world, and “Timeline” from Olive Bridge [...]

More From Our Brands

Access exclusive content