New York-based startup MoviePass plans to cash in on a night out at the movies by selling user data to Uber, Hollywood studios and restaurants close to theaters.
â€œYou go to dinner, you might have drinks, you might use Uber or Lyft,â€ MoviePass CEO Mitch Lowe told the FOX Businessâ€™ Maria Bartiromo on â€œMornings with Maria.â€ â€œSo we are going to help our subscriber get to all those businesses and get discounts and benefits.â€
Lowe, who previously served as president of RedBox and is the co-founding executive of Netflix (NASDAQ:NFLX), said the movie subscription service will use mobile devices to collect data.
â€œToday with your phone in your pocket, people can track pretty much where you are. You log on to Facebook, they know where you are. When you log into our app, we know where you are because we automate movie subscription essentially by what theater youâ€™re close to,â€ he said.
In the past, MoviePass has struggled to meet demand for its $9.95 monthly price, but Lowe is betting on its membersâ€™ movie-going habits to boost their bottom line.
â€œAs we drive more and more subscribers to their businesses weâ€™ll take a share of the incremental profits,â€ he said.