A startup is seeking 3,000 rich Americans who’ll put up $15,000 and pay $2,500 per movie to watch the latest theatrical releases in their home.
Unlike the famous streaming service, which serves up thousands of films and TV shows to millions of subscribers for about $13 a month, this startup by two entertainment-industry veterans is seeking just 3,000 rich Americans who’ll put up $15,000 and pay $2,500 per movie to watch the latest theatrical releases in their homes.
“Everyone is looking for a new, ancillary business,” said Fellman, who spent 37 years at Warner Bros., retiring as president of domestic distribution. “So we thought: How do we start a small, ancillary business, but that’s not disruptive?”He and Rosen, the former president of Ticketmaster, won’t disclose how their subscriber revenue gets divvied up, but say the studios get the majority. Red Carpet has deals with 10 distributors, including Paramount Pictures, 20th Century Fox, Warner Bros.
Rosen said Screening Room failed to understand the clientele. The ultra-affluent can afford a perfectly functional $150 leather purse, but wait in line to buy $25,000 Hermes Birkin bags. They want the experience of hosting a dinner party and whisking their friends to their private home cinema after dessert to surprise them with a film that’s otherwise only available in theaters, he said.“You can buy ‘Two-Buck Chuck’ or an expensive bottle of wine,” Rosen said.
The pair say they have almost 100 customers, and they’ve made inroads in places that surprised them, like West Virginia and North Carolina. The company is backed by Los Angeles-based OCV Management LLC.
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