A few years ago, venture capital was funding the company’s movie buffs. Today, we see new, unsustainable business models in certain manufacturing industries.
The American Manufacturing Federation is no stranger to documentaries. For example, the Academy Award-winning “American Factory” is an interesting film. And if I could find a way to write at length about it, “American Movies” In this blog, trust me, I will.
Oh, we also created our own.Relight the Flame“It’s only about 26 minutes, Watch for free on YouTubeAfter you’ve read this blog, of course.
Anyway, in this spirit, and in my love of observational film, I decided to watch the recently released “Movie Pass, Movie Crush” It chronicles the rise and fall of the subscription service of the same name, which essentially allowed users to go to as many movies as they wanted. Only $10/month.
Now, I like movies as much as the next person. For example, I saw “The Godfather” (Part I). and II), “Big Trouble” (starring Tim Allen), and Hidden Gems “Sleep Away Camp.” I had a little bit of experience in the film industry, working in a movie theater as a teenager, but I wasn’t a model employee. I remember sneaking into a nearly empty theater and sleeping through the second half of a movie. “The end of the world.”
That said, I have to admit that I was never the target demographic for MoviePass — as an adult, I can count the number of movies I’ve seen in theaters over the past few years on one hand — so I’ll answer your questions (followed by my abbreviated review).
“It’s hereditary.” I was so scared! I couldn’t sleep for a week! Oh my God!
“Terminator: Dark Fate” oh dear.
“Good boy.” I barely remember any of this.
“Top Gun Maverick” Silly but cool!
“Super Mario Bros. The Movie” It was a rainy day, but the kids had fun.
“labyrinth.” Our local indie movie theater playfully screened the 1980s Jim Henson classic, and my kids loved it.
Since there were six of us, it took two hands to do it. accurately I’m the type of subscriber who wanted MoviePass. Why? I don’t go to the movies very often.
For example, this is how gyms make money. Lots of people pay a monthly membership to Gold or LA Fitness, but only a handful actually show up to lift weights or use the elliptical machines. MoviePass started out like this: a small, plucky startup that used location tracking and debit cards to build a small membership base of people who liked to go to the movies. The documentary explains how MoviePass was driving attendance even though major theater chains like AMC wouldn’t make room for the company. MoviePass was literally putting more people in movie theater seats. And the company charged about $50 a month for membership. That’s still a bargain for frequent moviegoers, since tickets were already costing closer to $12 or $13.
In the mid-2010s, MoviePass brought in an exec from early Netflix who turned out to have knowledge of the discs the company used back when it sent DVDs by mail. The exec promised he could unlock capital investments. To boost the company’s membership numbers, he slashed membership fees to $10, and it worked: users signed up in droves. And he unlocked the credits.
Mr. DVD brought in another man with mysterious financial clout, and together the two thugs ousted the company’s founder from the board, began a spending spree that bankrupted the company within a year.
While spending $1 million on Coachella advertising or funding one of the worst movies of recent years with John Travolta’s gangster flick Gotti was a bad idea, the crux of the problem with this reimagined MoviePass was simple math: $10 a month for nearly unlimited movie tickets just doesn’t make sense, especially when $10 doesn’t even cover the cost of the movies. One Tickets. And MoviePass users made far more trips to the theater than that: One man said he’d been there 428 times. Another avid fanatic described seeing one of the “Avengers” movies five or six times, rewatching the first half, then the second, then rewatching parts he’d missed during bathroom breaks.
The new CEO and the money man appeared in the media, claiming plans to sell user data collected by the service, and even falsely proposed to negotiate with cinema chains to get a cut of the concession sales they generated, but none of it worked. Two years later, after their operations led to bankruptcy, the US Department of Justice charged the two with fraud. The lawsuit is still ongoing. This was after MoviePass settled with the Federal Trade Commission for intentionally locking out subscribers to boost revenue. Simply put, their business model was not sustainable. The WeWork model It was not sustainable. It was subsidized by venture capital money until the money ran out.
Now, MoviePass is back in the hands of its founders, who have reacquired the company, raised prices, and, crucially, stopped paying brand ambassadors like Dennis Rodman and hosting parties featuring 50 Cent. The company recently turned a profit for the first time in its history.
But to subsidize our lifestyles, there are new businesses built on unsustainable models. SHEIN and TEMTwo Chinese fast-fashion giants selling ultra-cheap clothing allegedly made with forced labor have experienced explosive growth in recent years, exploiting U.S. trade loopholes to sell directly to American consumers duty-free. Meanwhile, China’s auto industry Large subsidies China has been mired in severe overcapacity at the local, provincial and national levels for decades, and with chronically depressed domestic consumption, it is seeking export markets to pour its deep pockets into. Sooner or later, Chinese cars will be sold in the United States, and despite steep U.S. tariffs, they will likely be sold at prices far below competing U.S. models.
The difference between the rise and fall of MoviePass, the rapid growth of Chinese fast fashion, or the emergence of a world-class Chinese automaker backed by a lavish and sustained industrial policy is whether the bubble ultimately burst. that wayPopping these other bubbles won’t be as easy.
“Movie Pass, Movie Crush” Streaming with Max.
