Fandango Buys Promotional Reward Service Quantum
The company announced the acquisition Wednesday making it number one in movie ticket promotions.
The purchase also gives Fandango the rights to Quantum's lucrative Hollywood Movie Money currency — gift certificates for tickets — which will help the company expand its promotions for free and discounted tickets.
“We look forward to working with the Quantum team to build on Hollywood Movie Money’s momentum and help drive even more movie fans into theaters," said Paul Yanover, President of Fandango, in a statement.
Since last summer, the company has seen more than a 75% increase in mobile ticket sales. Mobile currently makes up 44% of Fandango's sales.Fandango has not disclosed how much it spent to acquire Quantum.
Here's the full release.