Every night, an estimated 20 percent of all tickets to Broadway shows go unsold. Enter TodayTix, a new mobile application that's trying to fill those empty seats by selling more tickets to last-minute buyers.
Founded by two former Broadway producers, TodayTix lets you buy discount and full-price theater tickets from your phone.
According to The Broadway League, 40 percent of all theater tickets are purchased within a week of the show date, often through a variety of sellers. The new app is looking to get a slice of that hefty pie, and plans to go up against anyone selling seats on The Great White Way.
"We compete with anyone who sells a ticket," TodayTix Chairman and co-founder Brian Fenty told CNBC's "On The Money."
For decades, the TKTS booth in Times Square has been the place where theater-going bargain hunters and tourists stand in line for a chance at last-minute tickets. TodayTix, however, is trying to position itself to exploit some of the limits of TKTS.
"Unlike TKTS, we actually sell tickets up to a week in advance," says Merritt Baer, CEO and co-founder of TodayTix.