MoviePass Sells $128M in Tickets for Oscar-Nominated Films

Startup MoviePass, which charges subscribers $10 per month for the option to watch one film per day in a participating theater, said it has passed 2 million subscribers. The company also reported that it was responsible for $128.7 million of the domestic box office for this year’s Oscar nominated films. MoviePass chief executive Mitch Lowe has described the math behind the company’s claim. He also has an explanation for how the company will survive its biggest economic challenge: that it loses money on any customers who sees at least two movies a month. Continue reading MoviePass Sells $128M in Tickets for Oscar-Nominated Films

Dreamscape Immersive Raises $30M More for VR Attractions

Dreamscape Immersive, a location-based VR startup, is joining forces with Nickelodeon to produce a new intellectual property aimed at children and families. The company, which is headed by former Disney and DreamWorks veterans, just raised $30 million in its Series B round of funding, led by AMC Entertainment with investments from Nickelodeon, 21st Century Fox and Warner Bros. as well as Majid Al Futtaim, VRSense Solutions, and Image Nation Abu Dhabi. Bold Capital Partners, a Series A investor, also joined the second round. Continue reading Dreamscape Immersive Raises $30M More for VR Attractions

AMC Invests $20M in Dreamscape, Plans to Open VR Centers

AMC Entertainment, the world’s largest theater chain, just invested $20 million in Dreamscape Immersive, a company that has been developing a virtual-reality multiplex for the last year-and-a-half for rollout in the U.S. and U.K. Other investors include Steven Spielberg, 21st Century Fox, Metro-Goldwyn-Mayer and Warner Bros. Dreamscape’s team includes former chief of Disney’s theme park design, a “Men in Black” series producer, and a live event bigwig. With AMC’s investment, Dreamscape has amassed $40 million. Continue reading AMC Invests $20M in Dreamscape, Plans to Open VR Centers

MoviePass Cuts Subscription to $10/Month, AMC Fights Back

Early Netflix executive Mitch Lowe is now in charge of MoviePass, and he plans to drop its movie ticket subscription price to $9.95, which will let customers go to one showing per day at any theater in the U.S. that accepts debit cards. In return, MoviePass pays theaters the full price of each ticket, with the exception of 3D or IMAX screens. The company just sold a majority stake to Helios and Matheson Analytics, a publicly traded data firm. AMC has stated it wants to block MoviePass subscribers. Continue reading MoviePass Cuts Subscription to $10/Month, AMC Fights Back

Netflix, Theater Owners Continue Clash Over Release Window

Netflix chief executive Reed Hastings accused theater owners of “strangling the movie business,” reiterating his claim that movie studios will increase revenues if they release movies in theaters and on services like Netflix at the same time. He also believes the studios would reap efficiencies in marketing. Movie studios, which make most of their money via theatrical distribution, have been intransigent with regard to collapsing the release window. The U.S. box office last year reached a record-breaking $11.1 billion. Continue reading Netflix, Theater Owners Continue Clash Over Release Window

Amblin and Alibaba Ink Mutually Beneficial Moviemaking Deal

Steven Spielberg’s Amblin Entertainment just inked a deal with Chinese e-commerce company Alibaba Group to produce, finance and distribute movies. The relationship gives Alibaba an entrée into the Hollywood moviemaking industry, and Amblin a pipeline to distribution in China. Although the financial details of the deal were not disclosed, Alibaba will now have a minority equity stake in Amblin and a seat on its board, and Amblin will have access to the Chinese company’s massive database on consumers there. Continue reading Amblin and Alibaba Ink Mutually Beneficial Moviemaking Deal

Chinese Company Buys Legendary Entertainment for $3.5B

Chinese conglomerate Dalian Wanda Group paid $3.5 billion in cash to purchase Legendary Entertainment, one of Hollywood’s largest independent movie companies, making it the largest such deal between Hollywood and China. Dalian Wanda’s other Hollywood holdings include AMC Entertainment, the second largest cinema chain in the U.S. The company, which got its start in real estate, also owns theaters and produces movies in China. Legendary has co-financed numerous movies, produced its own and has TV and digital divisions. Continue reading Chinese Company Buys Legendary Entertainment for $3.5B

AMC, Regal Debut Mobile Apps to Pre-Order Popcorn, Drinks

Movie theaters make their primary living at the concession stands, so it’s no surprise that the next trend at the local multiplex is aimed at making it easier to buy popcorn. AMC Theatres (about 350 theaters) and Regal Entertainment (570 theaters), the largest multiplex chains in North America, just debuted a way for customers to preorder and prepay for food and drinks via a smartphone app. The goal is to reduce what the chains call the “popcorn pinch point,” and reduce or eliminate the line at the concession stand. Continue reading AMC, Regal Debut Mobile Apps to Pre-Order Popcorn, Drinks

Paramount to Test Shorter Release Window for Home Video

Paramount Studios is using two October releases to test a shorter window than the traditional 90-day window between theatrical release and home video. “Paranormal Activity: The Ghost Dimension,” which opens on October 23, and “Scouts Guide to the Zombie Apocalypse,” which opens a week later, will go to home video about two weeks after their screen count falls below 300 locations. Paramount offered participating theater chains a percentage of digital revenue; AMC Entertainment and Canada’s Cineplex have signed on. Continue reading Paramount to Test Shorter Release Window for Home Video

Paramount Shortens Release Date from Movie Theater to DVD

Paramount Pictures has inked a deal with two major theater chains to release two upcoming films on DVD just two weeks after they leave theaters, a significant change to the traditional schedule. Since the 1980s, and the advent of the VCR, studios have waited at least 90 days, so this new deal marks a real break with the status quo. The Viacom-owned movie studio has partnered with AMC Entertainment Holdings Inc. and Canada’s Cineplex Inc., two of North America’s largest exhibitors. Continue reading Paramount Shortens Release Date from Movie Theater to DVD

Amazon Debuts its Digital Wallet App in Time for Fire Release

Amazon’s first smartphone, the Amazon Fire, hit stores on Friday preloaded with a digital wallet app that can store users’ loyalty cards and gift cards. About 70 retailers, including stores such as Whole Foods, GameStop, and AMC Entertainment are participating in the service. Customers can redeem their gift cards and rewards at stores by using the app-generated scanable barcode. The Amazon Wallet app is also available for download through the Google Play app store. Continue reading Amazon Debuts its Digital Wallet App in Time for Fire Release