Just watched this. They never explained how it would ever be a profitable company. They paid full price for tickets and then let people watch 30-31 movies a month. I like the idea, but it seemed like it was destined to fail without the discounted tickets that they hoped for.
SMH at how the brehs had the company taken over. The first guy (I think his name was Chris) was to blame for this. He brought in two randoms to run the company and let them do all of that spending. Just lets you know how much of a cheat code being white is.
Haven't seen the doc yet but I remember the plan when they first launched. It was sad to see it play out, but many knew what was going to happen.
The plan was to front the tickets only for a limited amount of time, then theaters and advertisers would get on board. I was an early adopter, like many others on this board, and was seeing movies damn near daily. shyt I didn't even care to see, but hell, got nothing better to do today. Imagine how many more tickets they sold that I'd have never bought. How many more concessions they sold when I wouldn't be in there. How many times did I have to go on that app to check movies, buy passes and all that? How many stores did I pass on the way to that theater? How many are right there in the same shopping center/mall? How much access would they have to my viewing habits and purchases and locations? How much data is being farmed? Times that by millions.....
So the plan (DREAM) was have so many extra people walking through the theater doors, breaking all sorts of records in tickets and sales, that the theaters would trade discounted ticket prices, in exchange for all the people who wouldn't be at the theater without MoviePass. And they'd have to compete with each other, because if AMC had moviepass but Regal didn't, Regal would lose out on millions of customers. And since you now have millions of people on your app, you sell advertising on there too to anyone who will buy. While your customer is driving to this theater, all those businesses they pass can pay even more advertising dollars for location based ads. They pull up to the theater and the bar is offering half priced drinks for MoviePass customers only. Now combine all that. You now have lots of user data to sell to any fukking body that will tell customers' age group, gender, location, live location, where the like to shop, eat, have fun, what they like to watch, etc etc etc...
What actually happened is, none theaters offered a penny of discount. They raked in the profits and extra customers at full price and let them bleed themselves dry. Then they implemented the idea themselves, where they could set the rules and parameters so they never lose profit (3 movies a month instead of unlimited) and you always come to their theater (A list, Regal).
There was never going to be a way to sustain this without the entire industry buying into it. What's sad is, they did buy into it. They just didn't BUY into it. They stole the idea. Now you see all of that on their apps and you better believe they're selling the data too.
AMC CAC's probbly made the latino dude leave for teaming up with them bros
stacy, hamet
, then kicking them off the board
