9 Jun 2010

Cinema ticket agency in profit inside first 12 months

8:55 pm on 9 June 2010

Bookmyshow, a company which sell tickets for small cinema chains online, reached a profit in its first 12 months in business.

Bookmyshow currently lists screenings for about 75% of cinemas, though it is still in talks with the two big chains, Hoyts and Reading.

The business is owned by Vista Entertainment Solutions, which provides cinema software to 47 countries around the world.

It's been going since March 2009 and did over $3 million in ticket sales in the first year.

Bookmyshow's primary source of revenue is commission on ticket sales for small cinemas.

General manager Matthew Preen says it's been in profit since November last year and is looking for growth through more cinemas on the website and more sales.

It's learning to use the Facebook and Twitter social networking sites to raise its profile among the public.

Mr Preen says he wants to move into Australia within the next couple of years.