©Reuters. Seed funding from Animoca Brands Corporation to relaunch MoviePass Inc’s subscription service
Animoca Brands Corporation Ltd. Led seed funding has helped MoviePass Inc – a technology platform that enhances the exploration of the film and cinema experience – to accelerate the beta relaunch of its cinema subscription service.
The funding, led by Animoca Brands with participation from Claritas Capital, Emerald Plus, Gaingels, Harlem Capital, PKO VC and Sandhill Angels, will also enable MoviePass to develop and execute the company’s Web3 strategy, including virtual reality cinema experiences and using technology to drive traffic to theaters.
The company will work with theater exhibitors and studios to offer film fans variable ticket prices.
Animoca co-founder joins board
Animoca Brands CEO and co-founder Yat Siu will join the MoviePass Board of Directors.
MoviePass has the largest footprint of any cinema subscription service with nearly 100% of the cinemas in the US market, offering customers the widest choice of cinemas.
The company has established strategic partnerships with more than 25 theater chains including B&B Theatres, Cinepolis Luxury Cinemas and Landmark Theatres. Moviegoers can purchase tickets, select seats and receive special offers directly from the MoviePass app.
The MoviePass beta is now live in nine US markets, including Atlanta, Chicago, Dallas, Houston, Indianapolis, Kansas City, Oklahoma City and Tampa Bay.
MoviePass is also in discussions with studios to share key insights about driving audiences and driving better engagement through technology.
“We expect 2023 to be one of the best-performing movie slates in recent years, including more estimated $100 million theatrical releases since 2018,” said Stacy Spikes, CEO and co-founder of MoviePass.
Improving the cinema experience
“As more and more fans return to the cinema, we will continue to build on our vision of developing innovative technologies that enhance the cinema experience for film fans, exhibitors and studios alike.
“And soon, we’ll be introducing cinemagoers to new ways to experience their favorite films and connect with their favorite characters, while also evolving our platform into a marketplace where our members, studios and theaters can discover the future of cinema together.”
“MoviePass has a strong vision for technology in entertainment, and our investment demonstrates our commitment to maximize the value MoviePass can deliver across the motion picture industry,” said Yat Siu, executive chairman and co-founder of Animoca.
“We believe that MoviePass will help shape the future with its initiatives to increase box office attendance, empower audiences with enhanced cinema experiences, connect studios and their franchise characters with movie fans, and facilitate funding for aspiring filmmakers.” of cinema.”
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