Going to the cinema is a classic American pastime that unfortunately has fallen by the wayside for so many Americans who simply can’t afford to spend $15-$25 for one night out. Once you factor that number times four or five for a family, it suddenly becomes an activity secluded to about once per month.
Well, thanks to a new startup company called MoviePass, you can watch one movie in theaters every day for the low, low rate of only $9.95 a month. That’s it! So long as the theater accepts debit cards, you’re good to go.
MoviePass was started in 2011 but was taken over by Netflix cofounder Mitch Lowe just last year. Lowe instituted this new policy in an effort to give movie fans affordable access to the place where movies are meant to be seen: the big screen.
Says Lowe: “Our vision has always been to make the moviegoing experience more affordable and enjoyable for our subscribers. We are changing the way consumers think about going to the movies by making it possible to experience a broader array of films — from the latest summer blockbuster to a critically acclaimed documentary — through a subscription model.”
Since the company essentially absorbs subscribers’ ticket costs (something that would bankrupt any company immediately at such a low subscription cost), MoviePass sold off a majority stake in big data firm Helios and Matheson Analytics to offset the expenses. The CEO of the data firm has big plans on gaining a return on what is essentially their investment — through data collection.
Using a method that’s “no different than Facebook or Google,” the firm will collect data on the behaviors of moviegoers and their viewing habits. This in turn will allow the company to tailor their ads for a target audience.