MoviePass Relaunches This Summer, But Will Audiences Return to Theaters?
By Movieguide® Contributor
In a world moving into a post-pandemic era, filmmakers and movie theater owners hope to see audiences return this summer for record profits.
MoviePass, which skyrocketed to popularity in 2018 before the company caved in on itself, is using this as an opportunity to relaunch. The once popular subscription service offered movie-goers the opportunity to watch one movie per day in a theater for a fee as low as $9.95 per month. Two years after its collapse, MoviePass is undergoing major changes and will relaunch this summer.
According to Entertainment Weekly, Stacy Spikes, an original co-founder of the company in 2011, addressed the relaunch in a presentation that was live streamed on February 10 from Lincoln Center in New York.
“A lot of people lost money,” he said. “A lot of people lost trust. There were a lot of people who were hurt and disappointed, and I was one of those people who was disappointed and hurt too.”
Rumors of a MoviePass revival have been swirling since December 2021 when Forbes Magazine reported on Spikes’ acquisition of the company from which he was ousted in 2018:
Spikes has been granted ownership of MoviePass assets by a New York City court, according to Insider. His bid for the company’s assets was apparently less than $250,000, which is shocking considering Reuters reported the company had once taken in investments led by a former Netflix NFLX+1.6% executive of $27 million.
Forbes Magazine also inferred the flat rate of $9.95 led to the original concept’s implosion. Spikes claimed they tested regional pricing as low as $8.00 and as high as $75.00. With little details offered about the relaunch’s tiered pricing and credits system, subscribers might face higher prices depending on locale. Spikes assures he has a bright future planned for MoviePass:
The new version of the company, he said, will strive “to build the first end-to-end cinematic marketplace. So what does that mean? Right now there’s something built for studios, and there’s something built for theaters. But there’s nothing built for us, that we actually are the center of. We want to be able to help software solve that problem and be able to bring us all together more efficiently. And we want to build that with Web3 technologies. And that’s our vision of the future.”
Now more than ever we’re bombarded by darkness in media, movies, and TV. Movieguide® has fought back for almost 40 years, working within Hollywood to propel uplifting and positive content. We’re proud to say we’ve collaborated with some of the top industry players to influence and redeem entertainment for Jesus. Still, the most influential person in Hollywood is you. The viewer.
What you listen to, watch, and read has power. Movieguide® wants to give you the resources to empower the good and the beautiful. But we can’t do it alone. We need your support.
You can make a difference with as little as $7. It takes only a moment. If you can, consider supporting our ministry with a monthly gift. Thank you.
Movieguide® is a 501c3 and all donations are tax deductible.
Now more than ever we’re bombarded by darkness in media, movies, and TV. Movieguide® has fought back for almost 40 years, working within Hollywood to propel uplifting and positive content. We’re proud to say we’ve collaborated with some of the top industry players to influence and redeem entertainment for Jesus. Still, the most influential person in Hollywood is you. The viewer.
What you listen to, watch, and read has power. Movieguide® wants to give you the resources to empower the good and the beautiful. But we can’t do it alone. We need your support.
You can make a difference with as little as $7. It takes only a moment. If you can, consider supporting our ministry with a monthly gift. Thank you.
Movieguide® is a 501c3 and all donations are tax deductible.
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