TodayTix Group has acquired London-based entertainment company Secret Cinema in a deal worth over $100m (£90m/€102m), it has been reported.
It is hoped the move will boost the ticketing platform’s presence in the growing immersive film and television events space.
Over the years, Secret Cinema has produced experiences with the likes of Disney, Marvel, Universal, Paramount, Lionsgate, Netflix, Sony and Eon Productions.
The company has sold more than one million tickets to over 50 shows and has recently secured a multi-year deal with Disney. The multi-title deal began with an immersive experience linked to ‘Guardians of the Galaxy’ in Wembley Park.
Secret Cinema has also produced experiences based on popular films and series such as ‘Casino Royale’ which reached an audience of over 100,000 in London, and ‘Stranger Things’ – a production that was seen by more than 300,000 people in Los Angeles.
Brian Fenty, co-founder and chief executive of TodayTix Group, told Variety: “This company has been a leader in the field and what makes them especially unique is in their relationship to the studios.
“They are entrusted to build transformative experiences by some of the top entertainment companies in the world. For us, this was a transformative acquisition in that it allows TodayTix to leverage its data and millions of customers and its frictionless technology to marry with Secret Cinemas game-changing approach to IP presentation.”
Secret Cinema has mostly operated in the UK except for the ‘Stranger Things’ experience in LA. TodayTix hopes to grow Secret Cinema internationally, and will launch a US-nation tour in May 2023 and establish a permanent base in LA. The e-commerce company will also keep Secret Cinema’s team of 50 full-time staff, as well as allowing the experience firm to operate as a separate brand.
Traditionally, Secret Cinema has produced short-term shows that ran for a few months, but it will now focus on open-ended theatrical runs across major cities. A permanent location in London to host these experiences is also on the list of objectives.
Max Alexander, CEO of Secret Cinema, added in a statement: “It has been an extraordinary two years for everyone in entertainment, as we emerged from multiple lockdowns and restrictions to the current cost pressures of putting on our shows.
“Despite this, Secret Cinema remains an exceptional producer of unforgettable, immersive experiences. Now with the backing and unique expertise of TodayTix Group, it can fulfil its true potential and bring suspense and spectacle to even more Secret Cinema goers around the world.”
Earlier this year, TodayTix Group also acquired live events discovery and ticketing platform Goldstar. It also invested in Stellar, a full-service livestream partner for live entertainment organisers, which was launched by Goldstar in October 2020.