Friday, December 29, 2017

MoviePass Adds 1 Million Subscribers in 4 Months

MoviePass said this month that it had signed up more than one million subscribers in just four months. It took Netflix more than three years to reach that level when it started selling low-priced subscriptions for DVD rentals in 1999. Spotify was relatively quick, at five months in 2011. It took Hulu 10 months to reach one million later that year. "We're actually shocked," [founder Mitch] Lowe said. "We seem to have hit a nerve in America."

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Under the MoviePass business model, theaters get paid full price for every admission. People who sign up receive a membership card that functions like a debit card. When members want to see a movie (no more than one a day) they use a MoviePass smartphone app to check in at the theater. The app instantly transfers the price of a ticket to the membership card. Members in turn use the card to pay for entry. It all works independently of theaters, sometimes to their chagrin.

Comments

How can this be a viable business plan?

#1 | Posted by BruceBanner at 2017-12-29 11:33 PM

It's hackers using robots to generate accounts. They then charge stolen CC numbers into these accounts and then sell the accounts.

For a buck you can see 10 or 12 movies.

Surprised management hasn't caught on by now. They must be pretty clueless.

#2 | Posted by Pegasus at 2017-12-30 05:59 PM

Fandango by phone?

#3 | Posted by hoser at 2017-12-31 08:30 AM

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