Richie Power & Jolyon Spurling from Showtime Analytics first approached LEO Wicklow in June 2014 with an idea. They and their co-founder Paul Lynch had put together a piece of analytics software and had been testing it out in a Waterford cinema. Preliminary results of the analytics tool were extremely positive, so the next step was a full Feasibility Study, for which they received LEO Funding.
Key performance indicators for cinemas include ticket sales, food and drink sales, movie start & running times, staffing requirements for busy and off-peak times, stock movement and actual return on investment from the films themselves. Tracking effectiveness in these areas was a little behind in this traditionally labour intensive industry, so like all great entrepreneurial teams, Showtime Analytics put together a solution to fit snugly into this niche.
By building a strong management team, a high quality product which continuously pivots to the needs of their niche market, and by utilising a strong international network of contacts, Showtime have come a long way in just 2 years. A successful Feasibility Study and the concrete ability to create jobs, brought them in front of the LEO Evaluation & Approvals Committee again, this time for a Priming Grant in 2015. The funding allowed them to continue software development, build their team and exhibit internationally to extend the reach of their network of key contacts.
Since receiving the Priming Grant from LEO Wicklow, Richie and his team have been showcased on Silicon Republichttps://www.siliconrepublic.com/start-ups/2015/09/28/boole-start-up-of-the-week-showtime-analytics and numerous international cinema publications http://pro.boxoffice.com/news/2015-03-27-big-data-at-the-movies-showtime-analytics as well speaking at numerous industry events in across Europe, and the US.
Currently expanding with a team of 15 presently, we look forward to watching the Showtime Analytics star continue to rise in the cinema industry and beyond.
Showtime Analytics @cinemaanalytcis
Profile Update 8.12.16
Showtime Analytics have secured €1.2 million in funding from the Chinese internet giant, Alibaba. The new joint venture which was announced this week in Shenzhen, China will result in a collaboration between Showtime and Yueke/Finixx, a subsidiary of Alibaba Pictures’ to develop a range of products targeting the Chinese cinema industry, the second largest in the world with more than 7000 screens. At LEO Wicklow, we are proud to have been a supporter of the business from its conception.