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.
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“You go to dinner, you might have drinks, you might use Uber or Lyft,” MoviePass CEO Mitch Lowe told the FOX Business’ Maria Bartiromo on “Mornings with Maria.” “So we are going to help our subscriber get to all those businesses and get discounts and benefits.”
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.
“Today 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 you’re close to,” he said.
In the past, MoviePass has struggled to meet demand for its $9.95 monthly price, but Lowe is betting on its members’ movie-going habits to boost their bottom line.
“As we drive more and more subscribers to their businesses we’ll take a share of the incremental profits,” he said.