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Movie Pass Can't Make Up Mind
Posted on 8/7/18 at 9:51 am
Posted on 8/7/18 at 9:51 am
LINK
It's been interesting to follow this company. I don't go see a lot of movies at the theater, so I never signed up for this. 3 movies a month for $9.95 still seems like a pretty good deal, but considering the average movie cost for a single show is more than that, I don't see how they are making any money off of this.
My understanding is that they do NOT get any discounts from the theaters. If they were getting the tickets at $2 a pop, maybe this makes sense.
I also don't know if 3 movies a month is going to give enough data to make the sale of data worth it.
It's been interesting to follow this company. I don't go see a lot of movies at the theater, so I never signed up for this. 3 movies a month for $9.95 still seems like a pretty good deal, but considering the average movie cost for a single show is more than that, I don't see how they are making any money off of this.
My understanding is that they do NOT get any discounts from the theaters. If they were getting the tickets at $2 a pop, maybe this makes sense.
I also don't know if 3 movies a month is going to give enough data to make the sale of data worth it.
14
Posted on 8/7/18 at 9:53 am to LSUFanHouston
Is it something that is currently designed to turn a profit? Or do they just have investors pumping a ton of money in one day hoping to profit.
I think it is Spotify that has never turned a profit. Operates something like this.
I think it is Spotify that has never turned a profit. Operates something like this.
This post was edited on 8/7/18 at 9:54 am
Posted on 8/7/18 at 9:53 am to LSUFanHouston
You would think it would benefit the theaters to give them a discount. More people in the theater means more popcorn and drink sales which is where they rake it in.
Posted on 8/7/18 at 10:00 am to al_cajun
The problem is the theaters have their own loyalty programs and could do this model if benefitted them. MoviePass buys the tickets on the open market. It’s current model is only as profitable as long as people are paying memberships they’re not using.
Posted on 8/7/18 at 10:00 am to LSUFanHouston
They said they are cutting it from limitless to three. They say 85% of their clientele only see 3 per month anyway.
I have an old friend that goes with is wife 2-3 times a week. He is going to be pissed.
I have an old friend that goes with is wife 2-3 times a week. He is going to be pissed.
Posted on 8/7/18 at 10:01 am to LSUFanHouston
TANK YOU FOWR CAWWING MOVIE PHOWN
Posted on 8/7/18 at 10:02 am to LSUFanHouston
Moviepass can suck it.
Posted on 8/7/18 at 10:02 am to LSUFanHouston
You can see three movies a month but you're severely limited on what you can see and when you can see it. Right now the closest theater to me is Movie Tavern at Citiplace. Only half the movies playing are available and of those you can only choose the last or last two showings around 6pm and 9PM. They've also removed the option to choose a movie that isn't in the app but is playing at the theater.
If they have an AMC near them tell him to signup for A-list. It cost more at $20 per month per person but you get 3 movies per week.
quote:
I have an old friend that goes with is wife 2-3 times a week. He is going to be pissed.
If they have an AMC near them tell him to signup for A-list. It cost more at $20 per month per person but you get 3 movies per week.
This post was edited on 8/7/18 at 10:04 am
Posted on 8/7/18 at 10:03 am to LSUFanHouston
I hear a lot of people talking about this on podcasts. Apparently they're capping it.
I live within walking distance of a movie theater (urban downtown area). I see maybe 1 movie in theaters every year (and it's always Star Wars). However, if I was paying a flat monthly fee, I could see myself treating almost like Netflix...get home from work, open a beer/pour a glass of wine, stroll over to the theater and spend 2 hours watching mindless entertainment before getting into bed and reading a book.
I live within walking distance of a movie theater (urban downtown area). I see maybe 1 movie in theaters every year (and it's always Star Wars). However, if I was paying a flat monthly fee, I could see myself treating almost like Netflix...get home from work, open a beer/pour a glass of wine, stroll over to the theater and spend 2 hours watching mindless entertainment before getting into bed and reading a book.
Posted on 8/7/18 at 10:04 am to LSUFanHouston
Movie Pass is akin to Napster. It won't survive but it will change the industry
Posted on 8/7/18 at 10:04 am to LSUFanHouston
They are trying to be the planet fitness of movie theaters. Get people to subscribe to a service they use for a month or two and then quit using but never cancel.
Posted on 8/7/18 at 10:07 am to LSUFanHouston
quote:
3 movies a month for $9.95
They just changed it from 1 movie per day for $9.95/mo
So you’re now paying the same price for 90% less stuff
Posted on 8/7/18 at 10:09 am to LSUFanHouston
This announcement actually gave life to their stock. But they need cash bad, and this will only be temporary. They need someone to buy them
Posted on 8/7/18 at 10:18 am to LSUFanHouston
There aren't even 3 movies a month that are worth seeing.
Posted on 8/7/18 at 10:24 am to LSUFanHouston
Just cancelled mine. I ate their lunch seeing at least two movies a week for about six months and it was a fun ride. Lately it's been crap and they're most likely about to go belly up.
Posted on 8/7/18 at 10:40 am to jmarto1
quote:
Movie Pass is akin to Napster. It won't survive but it will change the industry
I can see this. Often, the first to market with an idea doesn't survive, but sets the path for later changes.
See Apple's Newton, for example.
The movie distribution model is ripe for innovation. Someone asked about why don't the theater sell cheap tickets to moviepass on the idea that butts in seats will bring concession revenue. Several movie theater companies have said they are concerned that at the price for moviepass, many people will just get that and stop buying tickets directly. So they are concerned the loss of current ticket revenue won't be offset by increased concession sales.
Maybe if there was a system where Moviepass could only be used say 15 minutes before showtime, the theaters would be more likely to want to get involved with discounting.
I was surprised at just how many films Netflix is doing straight to their service. This itself may eventually change the game dramatically.
Posted on 8/7/18 at 11:02 am to LSUFanHouston
They are making money two ways:
1. Most people buying it aren't using it (The basic premise of a subscription model)
2. They are selling the hell out of their customer's data.
But, they aren't making enough money - and they are running out of VC money quickly.
1. Most people buying it aren't using it (The basic premise of a subscription model)
2. They are selling the hell out of their customer's data.
But, they aren't making enough money - and they are running out of VC money quickly.
This post was edited on 8/7/18 at 11:05 am
Posted on 8/7/18 at 11:05 am to PearlJam
quote:
They are trying to be the planet fitness of movie theaters. Get people to subscribe to a service they use for a month or two and then quit using but never cancel.
Winner.
It's why so many things are going subscription. In the past you bought something, and they'd have to try to win your business again.
This way you make that initial decision and a few folks will not revisit it. Pure profit.
Posted on 8/7/18 at 11:08 am to anc
quote:
They are making money two ways:
1. Most people buying it aren't using it (The basic premise of a subscription model)
2. They are selling the hell out of their customer's data.
Well apparently they aren't making any money =)
1) The subscription model works really well when you can directly control expenses. For example, a gym has X staff costs and Y facility and machine costs, and those costs don't go up too much based upon small increases in use. So if a gym has 1,000 members or 1,500 members, their cost is mostly the same, no matter how much or how little the gym is used.
But with this moviepass... their costs are almost completely variable based on use. And considering at 1 movie a month, they are basically underwater, I don't know this works. Capping at 3 movies a month will help bring costs down, but it won't make them profitable.
2) I had read that one of the reasons they dropped the price, to get more members, was to get better data to sell. But again, if they are losing this much money, you have to wonder how much that data is actually worth.
This post was edited on 8/7/18 at 11:09 am
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