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MoviePass CEO Stacy Spikes on offering consumers unlimited movies at theaters for a monthly fee.
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Did you see a movie over the holiday weekend the holiday box office shows Hollywood has don't want to be thankful for.
Listen to -- the Thanksgiving weekend broke previous box office records.
And we've got someone with a plan to help consumers see even more movies and so -- more seats.
Joining us now on a Fox Business exclusive is Stacy despite its CEO and co-founder of moving past.
Which offers unlimited movies and theaters for -- monthly fee and everybody thanks for coming in -- thank you think you're -- this is sort of like Netflix because you pay a monthly fee and if you're not a regular moviegoer probably not worth of if you go to movies all the time.
-- -- -- -- Right capsules Plano works so you basically pay a monthly fee which you can go to a movie a -- and it's nationwide we have about 98%.
Coverage and now.
How much as monthly pass up thirty dollars a month.
A third that's it okay because movies are obviously more than -- press and banking that people only see a couple of movies we have a different business models so you have.
The subscription service -- advertising you have some other things so it's more than just that.
Now in New York a movie can run -- about fifteen bucks we should mention this does not include 3-D.
But first fifteen dollar finally go to one movie a week I'm saving money by using your service.
In Manhattan absolutely absolutely -- yeah I can imagine the movie theaters and the operators were not thrilled at first.
-- that how did they react to it.
At first there was some confusion because people didn't think they were getting full price for the ticket but the theaters are actually being paid full price -- those tickets.
So everything's good now on everybody's excited about.
So you get should be bumped up with the advertising and and other cities in come as a so that he can offer the other things people go to the movies lot tend to also buy a lot of dvds and do other things as well so that's is that other side of the business.
Now I'm I'm betting that one thing that would please theaters this is filling those seats -- those last minute deals and -- are you kind of working with computer models and so forth to see if you can find out which theaters.
Have all these seats that they want to fill and maybe give discounts to those people.
Absolutely we saw on our service that when people use it they go 64%.
More.
And when they're not so -- united money's worth 90% of the time they've.
Theater's empty.
So you figured during the week.
People aren't in the movies as much so it's definitely good and it increased concessions as well I would think that that Fandango movie tickets dot com might be threatened by -- -- you say it's more like Netflix.
Well that the businesses they keep you at home -- going to the movies at the the are really the culprits that we're trying to defeat there.
So we want people would go to theaters rather than I'm gonna stay at my house and wait for the come some pretty are you making money it.
Yes you've -- your money already and dad and your are your investors -- the original investors paid off or known I don't know not that quick we just started a few months back but much of the the idea for this.
-- -- -- -- You're you're take get a shower and I give us -- -- -- -- voted yes literally -- like you know wonder if in six years later at what did you do from there how did you get the original starter -- no -- just.
-- on the lot of doors asking people's thing.
I don't think -- like this idea and out of people who work -- watch this if Smartphones weren't in existence yet.
You couldn't the same way part of our technology is you need -- you -- into your phone sort of prevents you from sharing in.
Using -- with your friends passing around so the Smartphone definitely.
Came at the right place the right.
Good for you Stacy Spikes great to see you thank you very much and Q movie pass is the name and I guess anybody can find it online right absolutely and we just.
Launched gifting today's if you want to give the gift of movies.
Just go to movie pass dot com slash -- things.
Fabulous all right that moral of the story take more showers -- -- that's okay thank you thank you very close.
