Field Notes · News & Press · Press

Startup Dealflicks Offers Discounts for Movie Tickets, Concessions

Amy Pack Mar 16, 2013 Source: CNBC
Startup Dealflicks Offers Discounts for Movie Tickets, Concessions

Pre-Markets U.S. Markets Currencies Prediction Markets Cryptocurrency Futures & Commodities Bonds Funds & ETFs Economy Finance Health & Science Media Real Estate Energy Climate Transportation Investigations Industrials Retail Wealth Sports Life Small Business Personal Finance Fintech Financial Advisors Options Action ETF Street Buffett Archive Earnings Trader Talk Cybersecurity AI Enterprise Internet Media Mobile Social Media CNBC Disruptor 50 Tech Guide White House Policy Defense Congress Expanding Opportunity Latest Video Full Episodes Livestream Live Audio Live TV Schedule CNBC Podcasts CEO Interviews CNBC Documentaries Digital Originals Trust Portfolio Analysis Trade Alerts Meeting Videos Homestretch Jim's Columns Education Subscribe Pro News Josh Brown Mike Santoli Calls of the Day My Portfolio Livestream Full Episodes Stock Screener Market Forecast Options Investing Chart Investing Subscribe Make It select USA INTL Livestream Livestream Startup Dealflicks Offers Discounts for Movie Tickets, Concessions With the cost of U.S. movie tickets rising, one startup is looking to revolutionize the market by allowing theatergoers to buy tickets for 30 percent to 60 percent off. And theater owners are beginning to buy in. Dealflicks , a San Francisco-based company, is looking to do for the movie theater market what Hotwire.com and Priceline.com have done for the travel sector. Dealflicks CEO Sean Wycliffe recently told CNBC's "Squawk on the Street" that 88 percent of movie theater seats are left vacant—a void Dealflick hopes to fill. Dealflicks now offers discounted prices for movies and concessions at roughly 100 locations nationwide. The startup has yet to strike a deal with larger movie-theater operators such as AMC and Regal theaters, part of the Regal Entertainment Group . Participating movie theaters set the discounted prices, which are available in real-time through their website and smartphone apps. "Currently, we are letting the movie theaters set the pricing so tickets and concessions can be up to 60 percent off. They get to choose the show times and the movies. Typically, we get evenings, weekends even opening weekends as well," Wycliffe said. Movie theaters are big business. Consumers shell out more than $40 billion on tickets and concessions annually. The average price of a movie ticket in 2012 was $7.96, hitting an all-time high of $8.12 last August

#Small Business#Small business#Technology#Entertainment#Movies#Regal Entertainment Group
Read full article on cnbc.com → Back to Field Notes