MoviePass today announced MoviePass Ventures, a wholly owned subsidiary founded to co-acquire films with film distributors. The announcement was made at The Sundance Film Festival during MoviePass’ content series Off-Script: The Future of Film to a room of filmmakers, producers, directors, investors, distributors, and other industry executives.
“We’ve experienced enormous success bringing people back into the theatres since our launch in August and with an influx of business from distributors, have proven the impact of our marketing over and over again, giving them an incremental lift in ticket sales,” said Mitch Lowe, CEO of MoviePass. “Given the successes we have demonstrated for our distributor partners in ensuring strong box office in the theatrical window, it’s only natural for us to double down and want to play alongside them – and share in the upside.”
According to the company, MoviePass is currently purchasing approximately three percent of domestic box office.
MoviePass is a majority-owned subsidiary of Helios and Matheson Analytics.
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