Facebook, Inc. (NASDAQ: FB) newly launched ticketing platform is already eliciting strong interest as companies look to leverage the network’s huge following. AMC Entertainment Holdings Inc. (NYSE: AMC) becomes the first theater company to sign up for the new platform as it moves to make it easier for people to purchase movie theater tickets. Online ticket sellers Fandango and Atom Tickets have also signed up for the new service.
Facebook Ticketing Platform
The ticketing platform allows people to search for movies by location as well as Showtime, by simply expanding the Explore tab and clicking in the Movies tab. Once a preferred movie is selected, the user will have to choose a check out option, which in these cases can be either AMC Entertainment or Fandango or Atom Tickets.
To complete the ticket purchase process, users will be directed to the respective theater sites depending on choice. AMC is a significant partner that should keep the new platform moving in terms of overall ticket sales. For starters, the firm operates 1,000 ticket theaters.
By focusing on Facebook as one of the channels for selling tickets, the company should be able to solicit more ticket sales given the 1.47 billion users on the platform. The platform also provides the company with another ticket sales channel after a lackluster performance last year.
Facebook Ecommerce Push
AMC Entertainment has also come under pressure from Movie subscription service MoviePass thus the need to ramp its sales channel avenues. While a partnership with Facebook is not expected to have a significant immediate impact, it provides yet another unique opportunity worth exploiting.
The new ticketing platform is yet another avenue that Facebook intends to use to monetize the millions of people who flock to the platform on a daily basis. It also comes at a time when the tech giant is in dire need of new revenue streams in the wake of the recent earnings surprise. Monetizing users through e-commerce is one of the ways the company can strengthen its revenue streams.
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