BULLSEYE!
TouchTunes CEO Calls Arachnid Buy a “No-Brainer”
In early February, digital jukebox creator TouchTunes bought electronic darts innovator Arachnid 360, a move that joins together two industry powerhouses.
Arachnid, which celebrates its 50th anniversary next year, will continue to operate under its well-known Arachnid, BullShooter and Spider 360 brands, and the company’s Sam Zammuto will continue to lead it, reporting to TouchTunes’ Executive VP of Operations Dan Hamric.
TouchTunes CEO Ross Honey said there are no plans at this juncture to make any staff changes. “Right now, we’re really focused on getting to know the team,” he added.
Honey explained that TouchTunes started casually talking to the Bealls, the now former Arachnid owners, about a possible purchase “so long ago that I couldn’t give you a specific date,” and that those conversations eventually built up to the deal.
On the cohesiveness of the brands, Honey said: “Both ultimately make people happy, make them enjoy being together with other people – in one case listening to music and the other case playing darts. So that’s what we saw – a business that’s doing the same thing we’re trying to do, therefore we thought it was very complementary.”
He also explained that the companies have the same customers – operators. “We have jukeboxes and BullShooters in many locations and we know from talking to operators that particularly when dart leagues are running, jukebox business is driven by these players.
“With our shared vision of sparking joy, and the common customer base that we have, it was a really a no-brainer to bring these two businesses together.”
Zammuto, Arachnid 360’s president, concurred that it was a perfect combination, integrating the two manufacturers with a combined 65-plus years of industry experience.
“It’s a good opportunity for doing great promotions between two companies. We can do cross promotions and tournament promotions,” he said. With the number of bars containing one or of their products, he added, “I think it’s a good mix between the two companies.”
Regarding a potential dart board-jukebox hybrid, which readers may be curious about, Honey mentioned they do have some ideas floating around.
“I think the one we’re most excited about is enabling cashless payment on BullShooters from the TouchTunes mobile app,” he explained, noting it’s used by millions of consumers. “They are accustomed to buying credits on the app. And so, what we want to enable is for that customer to go into their wallet on the TouchTunes mobile app and use that to pay for a darts game.”
It’s more convenient for the players and a boon to business, he said.
“It’s also good for the location because now their staff can be focused on serving drinks instead of breaking dollars. Operators know from the jukeboxes that cashless saves them money. Overall, we’ll see more revenue. We see this as a big opportunity for the amusement ecosystem and are excited to pursue it.
“We think that’s just the beginning,” Honey said of using the TouchTunes mobile app to enable cashless payments on the dart machines. In the immediate aftermath of the purchase, there’s no exact timeframe to announce yet, so keep your eyes peeled for additional news.
He also added that TouchTunes will have something new to show off to customers at this month’s Amusement Expo. “We think operators will be very excited about it.”
Honey said that, ultimately, it’s TouchTunes’ plan to leverage their knowledge and skills in mobile software and hardware to take darts to another level.
“TouchTunes has a long history in investing in the business – investing in product to make a better experience that then creates growth for operators and a better experience for locations and their users,” he concluded. “It is absolutely our intention to replicate that with the Arachnid business and BullShooter. It’s an amazing success story. They have a dominant share of electronic darts in this country and we see that as a fantastic foundation to invest in innovation.”
In the initial press announcement, former Arachnid co-owner Tony Beall remarked: “Through our complementary strengths, TouchTunes and Arachnid will deliver even more seamless experiences for consumers and growth for the venue and operator community.”
Honey advised that there are more than 30,000 connected Arachnid dartboards in operation globally, while TouchTunes has its own footprint of 65,000 connected devices, combining to bring entertainment to nearly 100,000 bars and other facilities across North America and Europe.
Learn more at www.touchtunes.com and www.arachnid360.com.