Thinking big is a trait we love to see from our entrepreneurs, investors and startups. After all, thinking big means innovation, creativity, and no limits.
And we love people who think as big as we do. One startup company that recently came across our radar is MoviePass. What caught our eye about MoviePass is the goal of the company; to be the “Netflix for movie theaters”. The goal sounds like a lofty one and immediately the question of “how?” came to our minds.
The model of movie distribution is a flawed one and is easily defeated by piracy. Because of piracy, the cost of a ticket to the movie theater is at an all-time high. Movie theaters have raised the price of tickets to account for piracy, which puts the burden on the wallets of the average movie-goer. In an effort to save theaters, MoviePass has come along to offer an unlimited movie service that everyone can enjoy. It’s a major undertaking considering the partnerships that need to be made with national theater chains as well as the studios. But here’s the kicker—MoviePass hasn’t done either.
If you’re confused right now, don’t worry, so was I. Let me explain how it works:
- To have a “membership” with MoviePass, you pay a monthly fee (depending on where you live, between $24.99 and $39.99)* and you’ll be granted one movie ticket per day.
- To use your ticket, all you have to do is pull out your iPhone (not on Android yet), locate the theater (you need to be near the theater) and determine which movie you want.
- Once you’ve done so, you have to check-in via the MoviePass app.
- When you arrive at the theater, you “pay” for your ticket with your MoviePass payment card. To the theatre, it looks like you’re paying with a normal credit card or gift card.
- Next, you’ll receive your movie ticket from the box office and enjoy your movie.
MoviePass aims to fill theaters, and so far it has done just that. During its private beta, the startup saw a 64% increase in movie theater attendance. MoviePass is clearly set out to target faithful moviegoers who patron theaters at least once a week. But it also appeals to those who previously avoided the high price of movie theaters by making them affordable.
If MoviePass is able to continue to provide an affordable option for moviegoers of all types, the startup really will save movie theaters all across the nation.
Do you have a company or idea in mind that really Thinks Big? Please contact me via email at Bobby.Miller@thinkbigparners.com. You could be featured in our blog as The Next Big Thing!