MoviePass, an upstart movie theater subscription service, has been a controversial topic lately. One Wall Street analyst called MoviePass a joke that would be out of business in 18 months. It lost nearly $100 million in its most recent quarter, its parent company’s stock has plummeted, and its auditor recently voiced skepticism over its ability to stay in business.
How to Fix MoviePass
Its best customers could help it reinvent the moviegoing experience.
May 18, 2018
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Summary.
MoviePass, a subscription service that allows members to attend unlimited theatrical releases of movies, is suffering from a business model that doesn’t seem to work. To find one that does, it should listen to superconsumers. These big spenders (on both tickets and concessions) could help the company find a more viable model — one that helps theater operators see that revenue from concessions is a key benefit of MoviePass, and one that tries to reinvent moviegoing as a more social experience.
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Marketing Essentials Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Marketing Essentials. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Learn how to communicate with your customers—strategically.