Fandango, the well-known movie ticket service, is undergoing a significant transformation to compete with free streaming platforms like Tubi and Pluto. The company, Versant, is revamping its free streaming service, dropping the 'Fandango At Home' branding in favor of a streamlined 'Fandango' name, and adding a slew of new content and features. This strategic move aims to grow a meaningful streaming business and leverage Fandango's existing brand identity and customer base.
The free streaming service, while nascent, has seen engagement rise quietly in recent weeks due to increased content. Versant plans to further boost this by rolling out a full-fledged marketing effort under the tagline 'We Love Free'. This will include a 20%+ increase in the number of titles and hours available to stream, ultimately topping 3,500 hours. The focus is on growing the premium content library, curating hit movies, fan favorite franchises, and popular television series, with an emphasis on sports programming, including the Bundesliga.
The company's investment in the free streaming space is driven by the explosive growth of other platforms. Versant aims to differentiate itself by leveraging Fandango's theatrical-adjacent brand, with 50 million consumers visiting Fandango or Rotten Tomatoes monthly to decide what to watch. This existing relationship with transactional customers gives Fandango a unique advantage in driving engagement and awareness.
Versant is also enhancing the product offering, from content recommendations to ad tech, with the goal of providing a better user experience and lower ad loads. The long-term strategy is to turn Fandango into the heart of Versant's streaming strategy, impacting the company's larger entertainment output and pay-TV ecosystem. This includes a windowing strategy where content will eventually end up on the Fandango AVOD platform, ensuring widespread awareness and accessibility.
In summary, Fandango's transformation is a strategic move to compete in the free streaming market, leveraging its brand identity, customer base, and content offerings. The company's focus on premium content, sports programming, and enhanced user experience positions it to challenge established players in the space.
