HOLLYWOOD MEDIA CORP'S BROADWAY TICKETING BUSINESS RETURNS TO DOUBLE-DIGIT SALES GROWTH
Wednesday, December 12, 2007
Sales Pace Returns to Pre-Strike Levels
The strike ended on November 28, 2007 and caused 19 days of cancelled Broadway performances. The Company lost profits approximately $1.1 million, due to the refunding to customers of service fees on tickets previously sold for the cancelled performances. The Company refunds its of the tickets
"We are proud of the way we handled our customer service during what was a difficult situation,” commented Mitchell Rubenstein, Hollywood Media’s Chief Executive Officer. “We maintained constant communication with ticket holders who were affected by canceled performances. We’re obviously glad to have the strike behind us and are delighted with our recent sales. We’re pleased with the volume that we saw immediately following the resolution of the stagehands strike and have returned to our double digit sales growth.”
About Hollywood Media Corp.
Hollywood Media Corp. is a leading provider of news, information and ticketing covering the entertainment and media industries. Hollywood Media’s businesses include: its Broadway Ticketing division including Broadway.com, 1-800-Broadway and Theatre Direct International; and its Ad Sales division including Hollywood.com and the U.K.-based CinemasOnline. Other Hollywood Media businesses include Hollywood.com Television, a free VOD cable TV network, and Hollywood Media’s minority interest in MovieTickets.com.
Note on Forward-Looking Statements