Industry News

Choovie seeks growth via equity crowdfunding

Choovie, a demand-based cinema ticketing platform, has launched an equity crowdfunding campaign to support its growth.

The Australian independent ticketing firm, which launched in April 2017, is looking to raise Aus$700,000 in capital.

The money will reportedly be used to help increase the number of cinema partnerships, increase its subscriber base and expand into international markets.

Choovie, which currently has 40 partner venues, offers dynamic pricing by combining real-time data capture and consumer analysis, along with automated Netflix-style notifications, Business Insider reports.

Choovie co-founder and chief executive Sonya Stephen said: “What’s really exciting about Choovie is that we can forecast demand for any movie session, at any cinema in Australia, and price it in real-time.

“By attending less popular times, people can get their hands on cheaper tickets and be able to afford more of the movies they love on the big screen. We wanted to create something really exciting and a new platform that investors could get behind.”

According to Business Insider, recent data from Screen Australia shows that since 2000 almost seven in 10 Australians (69%) have been to the cinema at least once per year, with an annual average of about four visits each year per person.

Choovie has presented more than 1.1 million tickets for over 30,000 sessions since its launch last year. Active subscribers buy an average of 13 tickets per year compared to Australia’s average of 3.5 times.

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