FLASH: My book is out. Now go buy it.
Because they’re fucking crazy. Or are they? I tried to find info on this via Stocktwits and could not. It has become a denizen of spam and retards shitposting — utterly useless.
First off, HMNY owns 52% of Moviepass.
What is Moviepass?
For starters, the CEO is a co-founder of Netflix.
For $9.95 per month, members can see a movie once per day all month long.
What?!
Indeed, Moviepass is using the same bet that gyms make — people won’t go. They will pay the theaters the price of the ticket and stand to lose GOBS of money, should people truly go to theaters. I am certain they’re negotiating deals with theaters at lower price points, especially since more foot traffic means more popped corn sales.
AMC is not impressed.
“From what we can tell, by definition and absent some other form of other compensation, MoviePass will be losing money on every subscriber seeing two movies or more in a month,” AMC says in a statement.
AMC is, quite literally, trying to BLOCK Moviepass in their theaters. The logic is, do not get people’s hopes up with this nonsensical business model that will fail. Once it fails, people will be pissed off and never see a movie again, or something like that.
The chain says that it doesn’t object to the concept of movie subscriptions: But the one from MoviePass “is not one AMC can embrace. We are actively working now to determine whether it may be feasible to opt out and not participate in this shaky and unsustainable program.”
I find it hard to see how Moviepass can succeed with the largest theatre chain in America blocking them. With 4 million shares in the float, it probably doesn’t matter today.
Look at that stock run.
For the love of God, they only have 27,000 followers on Twitter. If this got big, HMNY would go to a gazillion.
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The book is on my Christmas list.
Hilarious, this business model. AMC could launch a similar service and destroy that stock in a heartbeat.
Constructive criticism: Since you are virtually (relatively speaking) unknown as the Fly or George, the Amazon write up (As a young stockbroker on Wall Street, I detail my experiences,… etc.) should entice potential reader by promising to disclose some scandal or juice, specific info that is not public knowledge. Otherwise it’s a autobiography of a stockbroker that never made it to an invite on CNBC. Just my opinion, dont bite my head off.
Why the fuck would I take any writing advice from you?
This is not a writing advice. This is a marketing issue. Even extremely well known people have trouble selling autobiography (i.e. H. Clinton) as nobody expect them to publish anything juicy about themselves … as opposed to an unauthorized biography which sells very well because readers expect to find dirt in it. There’s no indication in your advertising copy for people outside of this blog indicating that it is not your own autobiography where you stroke your own ego. But have it your way if you’re not interested in feedback due to your thin skin.
It’s not an autobiography. It’s a story, fake names, anonymous firms — a god damned story based on true stories.
Typo on the Amazon page
“playing in the **word’s** finest casino”
“Indeed, Moviepass is using the same bet that gyms make — people won’t go…I am certain they’re negotiating deals with theaters at lower price points, especially since more foot traffic means more popped corn sales.”
Not exactly, the only chacne they have is the Hail Mary pass
Here is the MP business model:
Step 1:
Do not bother to get discounts form Theaters, because there is no leverage. Indeed, by all accounts, MP is paying full price for movie tickets at ALL chains:
Step 2:
Offer a low price to consumers so that you can get significant market share (aka, leverage).
Step 3:
Bleed money like a shotgun victim while rapidly raising cash through multiple stock offerings
Step 4:
You have leverage, so you can get discounts form Movie Theaters. additionally, you have addicted customers, so you can raise fees
Step 5:
Continue to lose money and create stock offering to the retail customers that can’t tell the difference between a good product and a good investement. Convince Stock Analysts that the only thing that matters is Subscriber adds, not profits (aka, the NFLX model)
AKA, the NFLX model
Instead, attract huge amount of customers
Surprised this company has not announced a secondary yet. FYI, the CEO speaks at the BTIG conference on Thursday.
Bezos will probably buy MoviePass now. Why not? He’s already bought a grocery store and is planning on sending people into space in rockets.