TodayTix has acquired theater review aggregator Show-Score.
As part of the deal, which closed mid-July, Show-Score will retain its own branding and website, while becoming integrated into the larger TodayTix suite of products. TodayTix, which operates in 17 cities, will seek to bring the reviews site and its community, built across member events and user-generated reviews, to new markets.
The integration of the two companies will begin in September, but Show-Score is not expected to resume operations until theater returns. Show-Score Chief Executive Deeksha Gaur will move over with the company.
The financial terms of the deal between the private equity-backed TodayTix and Show-Score were not disclosed. The acquisition came about after Show-Score, which features and ranks shows based on reviews from members and professional critics, shut down its site in March and paused operations as Broadway and other theaters remained closed.
“From our point of view, Tom [Melcher] and I wanted to find a strong partner for when we came out of intermission into our Act 2,” Gaur said.
Show-Score was founded by Melcher, who will be stepping down as chairman of the company, close to five years ago. TodayTix CEO Brian Fenty said his company was attracted to brand loyalty at Show-Score as well as its use of technology in the theater space.
The two companies have differing consumer bases, with TodayTix skewing toward a younger, New York City based audience and Show-Score attracting older theatergoers, with 60% of members living outside of the New York tri-state area. The Show-Score business model also included events, in which members would purchase tickets to a show together and then discuss.
The goal is for Show-Score to retain its individual brand and loyalty — and continue member events, when possible — while capitalizing on the global reach at TodayTix.
“As of now, our plan is really to make and continue what Show-Score is doing within its own silo and make sure it exists in a broader geographic footprint,” Fenty said.
This is the second acquisition made by TodayTix in recent months. The company announced the acquisition of Encore, a London-based ticketing system and related brands, in February, with the goal of expanding its reach in the West End and surrounding areas.
Like many theater-related businesses, TodayTix has had to conduct layoffs due to the closure of live theater. But, after evaluating the theatrical landscape and potential for further closures, Fenty said the venture-backed business is poised to “weather the storm.”
“We do believe sadly that there’s still another quarter or two of pause ahead of us, and it gives us actually a lot of time to make sure products come back much better than we left them,” Fenty said.
In May, the company temporarily rebranded as TomorrowTix, a nod to the closure of Broadway theaters through at least Jan. 3. The company has since launched online classes led by members of the Broadway community.
Both Gaur and Fenty said they’ve seen a desire among their member bases to return to live theater. The plan is to have both products ready and upgraded for that moment.
“I’m also excited about the fact that we can take this moment to reimagine how the theater can be,” Gaur said. “I think there’s a silver lining here.”
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July 28, 2020 at 05:00PM
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TodayTix acquires review aggregator Show-Score - Broadway News
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