MoviePass Sets Return This Summer With Tiered Pricing And Crowdfunding
deadline.comMoviePass, whose spectacular fall ended in bankruptcy two years ago, is planning to return in a new incarnation this summer.Stacey Spikes, the former studio marketer who co-founded MoviePass, only to be ousted as its CEO, detailed plans during a press conference at Lincoln Center’s Walter Reade Theatre.
He and his business partners acquired the brand out of bankruptcy and have hired a number of former employees, including engineers.Pricing, a key variable, was not confirmed during the 40-minute presentation.
The service will now have variable tiers of pricing.During Spikes’ initial run, MoviePass developed a devoted following, with much of its focus on the specialty business.
It accounted for 4% of the total box office. Once it was acquired by analytics firm Helios & Matheson and backed by venture capital, the bar was raised higher, with management at that point deciding to offer unlimited movies for $10 a month.In 2018, when MoviePass started to hit turbulence, major titles like Mission: Impossible – Fallout experienced such heavy demand that it essentially overloaded the circuitry.
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