With an image of a phoenix emblazoned on a screen behind him, Stacy Spikes, the founder of MoviePass, announced on Thursday that the controversial and defunct service will relaunch this summer. Spi…
, announced on Thursday that the controversial and defunct service will relaunch this summer. Spikes, a former film marketing executive and producer, who founded the ticketing service in 2011 before getting pushed out of the company after it was acquired by analytics firm Helios and Matheson in 2018, said that MoviePass is being reimagined as a cooperative. It will also use virtual currency and tiered pricing plans.
Spikes did share that MoviePass will employ a credit system, where credits will roll over month-to-month. Those credits can also be traded or shared with other people. Spikes also suggested that users can watch ads in order to earn more credits. But MoviePass did successfully reshape the theatrical landscape. It served as a disruptive force, inspiring theater chains such as AMC and Regal to launch their own subscription services. Spikes acknowledged that the competitive scene has been dramatically altered since he first came up with the idea for MoviePass, but he thinks there’s room for a service that isn’t aligned with one particular chain.
But he also used his time on stage to point to the lack of opportunities for Black entrepreneurs. He noted that women and people of color do not have the same access to capital as white business owners.
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