Tix Corporation Achieves Record Quarterly Discount Show Ticket Sales and Dinner Reservation...
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Tix Corporation Achieves Record Quarterly Discount Show Ticket Sales and Dinner
Reservation Sales in Las Vegas
Company Achieves 66% Y-O-Y Increase in Discount Show Ticket Sales
and 65% Increase Y-O-Y in Discount Dinner Reservation Sales for the
First Quarter
Results Exhibit Strength in the Company's Value Proposition to
Consumers
STUDIO CITY, Calif., April 20, 2009 (GLOBE NEWSWIRE) -- Tix Corporation
(Nasdaq:TIXC), a leading integrated entertainment company providing discount and
premium ticketing services, event and branded merchandising, and
production/promotion of live concert and theatrical events, today announced that
its Las Vegas operations achieved record quarterly sales.
"Our Las Vegas discount ticketing business continues to make strong gains
despite the challenging economic environment. We achieved excellent growth, with
total gross discount show ticket sales, commissions and fees increasing 66%
year-over-year to $17.6 million in the first quarter of 2009," stated Mitch
Francis, President and CEO of Tix Corporation. "We believe our core businesses
of Discount Ticketing, Live Entertainment and Exhibit Merchandising position us
well to benefit from consumers who are value conscious and looking for
entertainment options. Further evidence of a shift to value is the growth in our
discount dinner reservations, where we achieved growth in total gross sales of
65% over the first quarter of 2008."
During the first quarter, the Company sold over 300,000 discount tickets to Las
Vegas shows, concerts, attractions and sporting events, representing growth of
over 43% year-over-year. On a same store basis, excluding the sixth location
that opened in October 2008, gross discount tickets sales to Las Vegas shows,
concerts, attractions and sporting events have increased 38%. The number of
discount dinner reservations sold increased 66% year-over-year to 81,669 in the
first quarter, with gross same store dinner reservation sales up 35%
year-over-year.
"We believe these results illustrate our ability to generate strong ticket sales
and set the stage for national expansion with more new and exciting online
ticketing opportunities," commented Kimberly Simon, Chief Operating Officer.
About Tix Corporation
Tix Corporation is an integrated entertainment company providing discount and
premium ticketing services, event and branded merchandising, and
production/promotion of live concert and theatrical events. It currently
operates six prime locations in Las Vegas under the Tix4Tonight marquee --
offering up to a 50 percent discount for same-day shows, concerts, attractions
and sporting events. It also offers discount reservations for golf and dining at
its sales locations in Las Vegas. The Company also offers premium tickets to
concerts, theater and sporting events throughout the United States under its
Tix4AnyEvent.com brand. Its Exhibit Merchandising operation is engaged in
branded merchandise development and sales activities related to museum
exhibitions and other events -- including the King Tutankhamun and Real Pirates
tours, selling themed souvenir memorabilia and collector's items in specialty
stores in conjunction with the specific events and venues. The Company's newest
division, Tix Productions, is dedicated to live concert and theatrical promotion
and production throughout the United States, Canada and Europe and operates
under the banners of its recent acquisitions, Magic Arts and Entertainment and
NewSpace Entertainment.
Safe Harbor Statement
Except for the historical information contained herein, certain matters
discussed in this press release are forward-looking statements which involve
risks and uncertainties. These forward-looking statements are based on
expectations and assumptions as of the date of this press release and are
subject to numerous risks and uncertainties, which could cause actual results to
differ materially from those described in the forward-looking statements. These
risks and uncertainties are discussed in the Company's various filings with the
Securities and Exchange Commission. The Company assumes no obligation to update
these forward-looking statements.
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CONTACT: ICR, Inc.
John Mills / Anne Rakunas
(310) 954-1100
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