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Why Atom Tickets's Business Model is so successful?

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Atom Tickets’s Company Overview


Atom Tickets is a cutting-edge digital ticketing platform that simplifies the process of movie ticket buying and enhances the movie-going experience. Founded in 2014 and headquartered in Santa Monica, California, Atom Tickets provides a convenient, social, and personalized platform for consumers to discover new films, browse trailers, read reviews, and buy movie tickets for any cinema in the United States. With its user-friendly mobile app and website, Atom Tickets aims to revolutionize the movie industry by bridging the gap between moviegoers and theaters through technology. Atom Tickets operates a unique business model that focuses on providing a seamless and integrated service for moviegoers and theaters alike. The company partners with movie theaters, enabling them to reach and engage with more audiences, while also offering consumers a one-stop platform for all their movie-going needs. Users can search for movies, invite friends, buy tickets and concessions, and skip the lines at the theater, all from their mobile device. Furthermore, Atom Tickets also collaborates with studios and distributors to provide targeted marketing and promotional opportunities, enhancing the visibility of their movies. The revenue model of Atom Tickets is multifaceted. Primarily, the company generates income by charging convenience fees on every ticket transaction processed through their platform. This fee is usually a small percentage of the ticket price. Additionally, Atom Tickets earns revenue through partnerships with movie theaters and studios. The company provides marketing services and promotional opportunities for these partners, who in turn pay for these services. Furthermore, Atom Tickets also monetizes its platform through in-app purchases of concessions and other related products, providing another stream of revenue.

https://www.atomtickets.com/

Country: California

Foundations date: 2014

Type: Private

Sector: Consumer Services

Categories: Entertainment


Atom Tickets’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: fun/entertainment, provides access, rewards me

Functional: saves time, simplifies, connects, reduces effort, avoids hassles, informs


Atom Tickets’s Related Competitors



Atom Tickets’s Business Operations


Cross-selling:

Cross-selling is a business strategy in which additional services or goods are offered to the primary offering to attract new consumers and retain existing ones. Numerous businesses are increasingly diversifying their product lines with items that have little resemblance to their primary offerings. Walmart is one such example; they used to offer everything but food. They want their stores to function as one-stop shops. Thus, companies mitigate their reliance on particular items and increase overall sustainability by providing other goods and services.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Customer loyalty:

Customer loyalty is a very successful business strategy. It entails giving consumers value that extends beyond the product or service itself. It is often provided through incentive-based programs such as member discounts, coupons, birthday discounts, and points. Today, most businesses have some kind of incentive-based programs, such as American Airlines, which rewards customers with points for each trip they take with them.

Digital:

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

Mobile first behavior:

It is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices. The term is “mobile first,” and it is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices.

Transaction facilitator:

The business acts as an acquirer, processing payments on behalf of online merchants, auction sites, and other commercial users for a fee. This encompasses all elements of purchasing, selling, and exchanging currencies at current or predetermined exchange rates. By far the biggest market in the world in terms of trade volume. The largest multinational banks are the leading players in this industry. Around the globe, financial hubs serve as anchors for trade between a diverse range of various kinds of buyers and sellers 24 hours a day, save on weekends.

Dynamic pricing:

This pattern allows the business to adjust its rates in response to national or regional trends. Dynamic pricing is a pricing technique known as surge pricing, demand pricing, or time-based pricing. In which companies establish variable prices for their goods or services in response to changing market conditions. Companies may adjust their rates based on algorithms that consider rival pricing, supply and demand, and other market variables. Dynamic pricing is widely used in various sectors, including hospitality, travel, entertainment, retail, energy, and public transportation.

Two-sided market:

Two-sided marketplaces, also called two-sided networks, are commercial platforms featuring two different user groups that mutually profit from the web. A multi-sided platform is an organization that generates value mainly via the facilitation of direct contacts between two (or more) distinct kinds of connected consumers (MSP). A two-sided market enables interactions between many interdependent consumer groups. The platform's value grows as more groups or individual members of each group use it. For example, eBay is a marketplace that links buyers and sellers. Google connects advertising and searchers. Social media platforms such as Twitter and Facebook are also bidirectional, linking consumers and marketers.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

eCommerce:

Electronic commerce, or e-commerce (alternatively spelled eCommerce), is a business model, or a subset of a larger business model, that allows a company or person to do business via an electronic network, usually the internet. As a result, customers gain from increased accessibility and convenience, while the business benefits from integrating sales and distribution with other internal operations. Electronic commerce is prevalent throughout all four main market segments: business to business, business to consumer, consumer to consumer, and consumer to business. Ecommerce may be used to sell almost any goods or service, from books and music to financial services and airline tickets.

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