The rumors were true—MoviePass is back. However, it will work a little differently this time around.The movie streaming service has announced its comeback, along with changes to its platform. So, what will be different about MoviePass this time around? Let's have a look at some plans the service has announced.
MoviePass Returns as MoviePass 2.0
In a live-streamed event, MoviePass CEO, Stacey Spikes, announced that MoviePass is returning in the summer of 2022 with a different spin.
MoviePass shut down in 2019, an end that many had predicted due to the service's business model—particularly, its unsustainable the $10 unlimited plan. However, the service is returning with bold plans that have fans and the rest of the industry talking.
What's New in MoviePass?
Here are some of the major announcements made by MoviePass' CEO during the 43-minute live-streamed event:
1. Web3-Powered Cinematic Marketplace
MoviePass is doing away with its old ticket system in favor of a new one that is driven by Web3 technology. As stated by Spikes in the livestream:
We wanted to be able to build the first end-to-end cinematic marketplace. So, what does that mean? Right now there is something built for studios, and there is something built for theaters, but there is nothing built for us that we actually are at the center of. We want to be able to have software that helps solve that problem and be able to bring us all together more efficiently, and we want to build that with Web3 technology.
Web3 is becoming increasingly popular in online communities, with more companies adopting the technology to keep up with changing times.
2. A Credit System
MoviePass is overhauling its ticket system, and will now use a credit-based system where currency is virtual.
Through the credit system, you will be able to earn credits that you can spend on movie tickets. If you haven't used your credits they will roll over to the following month, instead of losing them and having to start all over again.
Your credits will also be transferable, which simply means you can give them away if you will not be using them that month. The credit system will also create a marketplace in which theaters can compete and offer you concessions to visit them.
However, it is important to note is that the credit system works differently during on- and off-peak times. For instance, you can expect to use more credits on a movie during the weekends, which is when people typically visit the theaters, than you would during the week.
Interestingly, one of the ways which you can earn credits is by watching ads. More on that later.
3. The Ability to Bring a Friend
For the first time, MoviePass will let you bring a friend to the movies. This is especially beneficial in cases where you have more than enough credits to go by. Previously, MoviePass did not allow users to share their subscription with another person.
While it seems like a no-brainer, this is an overdue development for MoviePass, considering that the in-person movie experience is typically a social experience that friends tend to enjoy together.
4. Tiered Plans
MoviePass will give you options for tiered plans, unlike the standard $10 unlimited plan it is known for. He noted that the $10 plan especially worked for those customers who weren't sure about the service, and added that there exists a group of customers who wanted more out of the service.
5. Direct Offers from Theater Partners
MoviePass will allow theaters to contact you directly to encourage you to return when you haven't visited for a while.
The new MoviePass will allow partner theaters (theaters that have signed on as partners on MoviePass) to make direct offers to you, like offering you cheaper tickets to encourage you to return if you haven't attended recently.
This may be done during times when movie theaters are experiencing slower seasons.
6. Customized Pre-Show Ads
Much like how theaters show you ads before a movie starts playing, MoviePass is partnering with brands to do the same. If you would like to earn extra credits for a movie, you can watch the pre-show, but there's a catch.
MoviePass uses facial recognition to make sure that you watch the whole ad until it is done playing. If you put your phone down mid-ad, the ad will pause and resume when you face the screen again. In addition, MoviePass will show ads which are unique to you using Web3 technology.
MoviePass Is Creating a Cinema Marketplace
Much of what MoviePass has planned boils down to creating a marketplace that will benefit all of its stakeholders, including customers and theaters.
The service is intentional about adding value to all players this time around. However, while its plans are bold, not all fans are pleased.
Considering the backlash that MoviePass is receiving over this change in direction, only time will if it will pay off, or if the service will fall flat once again.