Tix Corporation Achieves Another Milestone With 250,000 Discount Dinner
Reservations Sold in Las Vegas in 2008
Further Validation of the Company's Value Offerings
Cross Promotion Strategy Continues to Support Strong Overall
Discount Ticket Sales
STUDIO CITY, Calif., Jan. 5, 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
during 2008, the Company sold more than 250,000 discount dinner reservations to
Las Vegas area restaurants.
"The growth of our discount dinner reservation business is further evidence of
the value proposition that we provide consumers, which is so important in the
current economic environment," stated Mitch Francis, President and CEO of Tix
Corporation. "We believe that the achievement of key operational objectives,
such as the sale of over one million tickets to Las Vegas shows, concerts,
attractions and sporting events in 2008 and our recently announced co-branded
website with a major big box retailer to offer events nationwide, is evidence of
our focus on making Tix Corporation a great company."
In 2008 the number of discount dinner reservations sold by Tix4Tonight to Las
Vegas area restaurants increased 107% over 2007 and the related commissions and
fees earned on gross dinner reservations increased 165% for the same period.
Sales benefitted from increased demand and the Las Vegas visitor's quest for a
value proposition. In addition to offering half price, same day, dinner
reservations at approximately 30 Las Vegas area restaurants, the Company's
Ticketing Services subsidiary, Tix4Tonight, also sells discounted tickets to Las
Vegas shows and events, and discount golf reservations.
"By offering half price dinner reservations to our customers at the same
locations where they book discount show and event tickets, we are able to
leverage our six Las Vegas discount ticket sales locations and staff," commented
Kimberly Simon, Chief Operating Officer. "Cross promotion between our products
is a cornerstone of our business strategy, and we believe our value-added
discount dinner reservations will continue to support strong overall discount
ticket sales."
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
