Does Lions Gate Want Some Of That AMC Magic? Studio Partners With Detroit Startup
Detroit startup TiiCKER Inc. announced a new partnership with Hollywood studio Lions Gate Entertainment Corp (NYSE: LGF-A) (NYSE: LGF-B).
The goal is to attract the same group of young Reddit traders that supported AMC Entertainment Holdings Inc (NYSE:AMC) when it was on the brink of bankruptcy.
What Happened? Lions Gate recently announced it is partnering with TiiCKER to launch its Shareholder Red Carpet Rewards program, which is focused on small investors. Lions Gate investors wil have access to collectible certificates branded with classic films such as "Dirty Dancing" and "Reservoir Dogs."
Related Link: Robinhood Traders Beat The S&P 500: Is The Retail Investor Back?
In addition to the collectibles, investors will receive perks such as a 50% discount to Lions Gate's Starz streaming service and a chance to win tickets to Lions Gates movie premiers.
Why It's Important: TiiCKER launched in 2020 and specializes in direct-to-shareholder marketing. The company helps public companies reward individual investors by providing discounts, deals and gifts to shareholders and incentivizing customers to become investors.
"We're thrilled to debut our first partnership with a world-class Hollywood film & television studio and their tens of millions of subscribers and fans in utilizing the TiiCKER platform to build shareholder loyalty and engagement," TiiCKER founder and CEO Jeff Lambert said in a statement.
Related Link: Why Meme Stocks AMC Entertainment And GameStop Are Still 'In Danger Of Declining To $0'
Investors can view a full list of the Shareholder Red Carpet Rewards program at TiiCKER.com/LGF or in the TiiCKER app, and Lions Gate shareholders can redeem their rewards by creating an account connected to their brokerage account and verifying their stock ownership.
Benzinga's Take: Lions Gate appears to be looking for some of the market magic AMC was able to tap into by appealing to small retail investors' passion and nostalgia for classic movies. Reddit traders send AMC shares from under $2 to as high as $72.62 in 2021, allowing the company to raise much-needed cash by dumping hundreds of millions of shares into the market. AMC stock is now trading back down at around $7.50.
