Fandango signs deal to buy Movieclips network
Fandango, the Los Angeles-based online ticketing service owned by NBCUniversal, said it signed a deal to acquire Movieclips, an operator of film-related channels on YouTube.
The acquisition will enable Fandango to significantly expand its audience reach with broader product offerings in video, content and movie discovery, the company said Thursday.
Financial terms were not disclosed.
The Movieclips network, operated by Venice-based Zefr Inc., consists of 25 YouTube channels with a catalog of 45,000 curated film clips, trailers, and original video productions. The network has more than 7 million subscribers and averages 200 million viewers a month.
“The Movieclips acquisition will further serve our fans, enhancing the Fandango experience with amazing video content available at one definitive destination,” Paul Yanover, president of Fandango, said in a statement. “This deal, along with the launch of our redesigned website and mobile apps, will provide consumers an even better way to explore and share their passion for the movies.”
Launched in 2009, Movieclips has partnered with major Hollywood studios and licensed their content to create and distribute bite-sized clips from popular feature films. The site has generated more than 5.2 billion video views across its YouTube network to date.
The Movieclips business and its team will transfer to Fandango, while Zefr will expand its core offerings in brand, rights and content management solutions, the companies said.
“This is a tremendous opportunity for everyone involved to be part of building the ultimate destination for moviegoers and fans alike,” said Rich Raddon, co-founder of Zefr. “When we created Movieclips five years ago, we saw the huge potential of YouTube as a place for fans to connect with content. Movieclips played a key role in helping develop Zefr and we’re thrilled to be sending it to Fandango, where it will continue to be utilized and enjoyed on such a large scale.”
Fandango sells movie tickets to more than 23,000 screens nationwide. Its website provides reviews, commentary, celebrity interviews and trailers, and offers the ability to select a film, plan where and when to see it, and buy tickets in advance.
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