Fandango's First International Acquisition Establishes a Leading Position for the Company in the Fast-Growing Latin American Film Market
LOS ANGELES/RIO DE JANEIRO (September 25, 2015) - Fandango, the leading U.S. digital destination for moviegoers, announced today it has signed an agreement with Latin American e-commerce company, B2W Companhia Digital, to purchase its entertainment ticketing subsidiary, Ingresso.com, based in Rio de Janeiro, Brazil.
With more than six million registered customers, Ingresso is Brazil's largest online and mobile movie ticketing service. In addition to movies, the service also sells tickets to concerts, soccer games and cultural events including the world-famous Rock in Rio festival. The acquisition, subject to regulatory review and other customary closing conditions, is expected to close in the fourth quarter of this year.
Brazil has a leading moviegoing population, accounting for 40% of Latin American box office dollars in 2014, according to Rentrak. The country has seen nine continuous years of box office growth, representing the largest market in South America and the world's 11th largest theatrical market, according to the Motion Picture Association of America. The MPAA predicts that Brazil will constitute the world's fifth largest market by the end of 2020.
"As our ongoing commitment to the domestic business continues to produce record-breaking results, we see this as an opportune moment to expand outside of the United States," says 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, and we look forward to extending our leading online and mobile ticketing capabilities to Brazil's entertainment fans."
Fandango will bring to Ingresso.com its popular online and mobile entertainment products, branding and marketing expertise and fast-growing international position on YouTube with Fandango Movieclips content to build an even larger presence for Ingresso.com in Brazil's entertainment ecosystem.
The Raine Group and G5 Evercore advised Fandango on the transaction.
Fandango, a unit of NBCUniversal, is the leading provider of online and mobile movie tickets in the U.S., reaching 42 million unique visitors per month, according to comScore, and selling tickets to 27,000 screens nationwide. Fandango entertains and informs consumers with reviews, commentary, celebrity interviews and trailers, and offers the ability to quickly select a film, plan where and when to see it, and conveniently buy tickets in advance. For many theaters, fans can print their tickets at home or receive them as a paperless Mobile Ticket on their smartphones. Fandango's top-ranking movie ticketing apps for Apple's iOS devices and Google's Android Platform have garnered 49 million downloads to date. The company also operates the #1 movie trailers and content channel on YouTube with Fandango Movieclips, which can be found at its dedicated website (http://www.movieclips.com) and its recently-launched mobile app for iOS and Android. Film fans can find Fandango on Facebook at www.facebook.com/fandango and on Twitter @Fandango.
About B2W Digital
B2W Digital is the leading e-commerce company in Latin America and operates through a digital platform, with businesses that present a strong synergy and a unique model, multichannel, multibrand and multibusiness. The Company has a portfolio with the brands Americanas.com, Submarino, Shoptime, SouBarato, Digital Finance and Submarino Finance, that offer more than 40 categories of its products and services and products and services of third parties through the internet, telesales, catalogs, TV and kiosks distribution channels. B2W Digital further operates B2W Services, Latin America's largest and best services platform for virtual stores.