Dealflicks, a company that prides itself on being the “Priceline for movie tickets,” announced this week that it had raised $1.7 million in seed funding. Investors in this round included 500 Startups, Siemer Ventures, Archer Gray and Rubicon VC.
Company co-founder Sean Wycliffe explained to TechCrunch that after a movie’s opening weekend, typically 95 percent of the seats in the theater are empty. Dealflicks hopes to change all that.
Specifically, the business has a mobile app showing users discounted movie tickets and related offers nearby. Dealflicks found success by partnering with independent theaters as well as theater chains. The company has already gone live in more than 400 different theater locations across the U.S., and has partners with nine of the top 50 theater chains in the nation.
Just how good are these discounts?
As reported by the news source, deals can offer customers up to 60 percent off. However, the typical discount for tickets is about 30 percent, and ticket and popcorn deals run about 35 percent to 40 percent off. Depending on the movie time, day of the week, or expected attendance, theaters can also set different discounts.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.