CALGARY, ALBERTA-- - RepeatSeat (TSX VENTURE:RPS) is pleased to announce that on-line movie ticketing sales in the first two months of 2008 are more than triple the corresponding period in 2007, a year in which total online movie ticket sales more than doubled from 2006, to over 600,000 transactions.
George Davidson, RepeatSeat President and CEO, noted "Sales for the first two months of this year reflect a 300% increase compared the same time period last year. Over the last several months, we have seen an extraordinary increase in market awareness of our mCommerce solution, which we believe to be a major contributor to the dramatic increase in transactions. Utilizing our technology tickets can now be purchased on a cell phone; the cost of the transaction is charged to the patrons mobility account; and a bar code for entry to the movie is delivered back to the phone."
RepeatSeat's bullish on the industry as a whole; In 2007 Movie Revenues in the United States and Canada increased 5.4 percent to a record $9.6 billion and the view of 2008 sales is very positive and is supported by the incredible line-up of new film releases scheduled for 2008. This years' line up was unveiled at the movie industry's premier industry event ShoWest. Starting with the release later this month of "21" and continuing throughout the year with expected blockbuster hits such as the May 2nd release of Iron Man, followed by Indiana Jones; Journey to the Centre of the Earth 3-D; the Chronicles of Narnia; Star Wars: the Clone Wars; Sex and the City; and the summer release of Mike Myer's newest film, The Love Guru; the movie industry is expecting to surpass last year's record setting box office receipts.
Davidson added, "The volume and timing of this year's movie release program is a dream for on-line ticket sales. With major release, following major release throughout the year, the use of online ticketing to secure seats is a given."
RepeatSeat recognizes that mobile phones and wireless devices are now integral in providing entertainment options to mobile users and has developed a proprietary mCommerce Solution to capitalize on this trend. A recent report by media observer Juniper Research, estimates that 208 million users will have purchased more than 2.6 billion mobile tickets via their cellular phones by 2011. RepeatSeat provides the technology and in many cases the entertainment content for the user. It is truly unique in being able to provide entertainment options and the technology to facilitate the purchase of these options via the mobile phones and other wireless devices in a mCommerce Solution . As commercial acceptance of the technology grows it will facilitate the continued growth in the sale of more tickets as well as attracting new venues looking for RepeatSeat's leading interactive ticketing and data solutions."
For RepeatSeat investor relations needs, investors are asked to visit the RepeatSeat Investor Relations website where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to RPS@agoracom.com where they can also request their addition to the investor e-mail list to receive all future press releases and updates in real time.
About RepeatSeat (TSX VENTURE:RPS):
Headquartered in Calgary, with offices in Toronto, Edmonton, Montreal and Denver, RepeatSeat Ltd. offers interactive entertainment solutions through industry leading data, ticketing and mobile applications to the live event, movie, ski, tour and excursion industries throughout North America and the Caribbean. RepeatSeat is also a Canadian leader in the video arcade industry and is integrating this entertainment niche into its fully interactive data and mobile environment across Canada.
This News Release may include certain "forward-looking statements" that involve risks and uncertainties. Actual results may differ materially from results indicated in any forward-looking statements. The company cautions that, among other things, in view of the rapid changes in communications markets and technologies, and other risks including the cost and market acceptance of the company's new products, the level of individual customer procurements and competitive product offerings and pricing, and general economic circumstances, the company's business prospects may be materially different from forward-looking statements made by the company.
FOR FURTHER INFORMATION PLEASE CONTACT:
RepeatSeat Ltd.
Bob Christianson
Executive Vice President
(403) 716-2276
Email: bchristianson@repeatseat.com
Website: www.repeatseat.com
or
AGORACOM Investor Relations
Email: RPS@Agoracom.com
Website: www.agoracom.com/IR/RepeatSeat
