4 ms·
Shockingly, their terrible business model allowed them to grow quickly as long as they could lose prodigious amounts of money. They're facing competition now fr
by cwyers 9y ago
Shockingly, their terrible business model allowed them to grow quickly as long as they could lose prodigious amounts of money. They're facing competition now from the theater chains (Cinemark, who runs my nearest theater, has a discounted movie pass club that's not nearly as good a deal but is actually a viable business) and it looks like they can no longer afford to lose as much money. They're doomed.
- Jtsummers 9y ago> They're doomed. Honestly, this was my assumption when I signed up for the service. People like me will keep them in business longer than they ought to be (because new people signing up delays their financial failure). But I'm almost at break even after just 1.5 months. As long as they last through June, which I expect they will, I'll have saved money on (mostly) movies I'd have gone to see anyways.
- scarface74 9y agoNew people signing up and using their service actually will accelerate their demise. They pay the movie theatres full price.
- adjkant 9y agoThey recently switched their pay model to upfront quarterly, which gives them an influx of cash short term. Not a good sign for long term but it will keep them afloat and allow everyone to burn VC money for a bit longer. In their minds, I'm guessing that as long as they grow exponentially or close to, they will eventually have the leverage over theatres they need to get a cut of concessions.
- crowbahr 9y agoMy wife and I both have accounts. Tickets in Seattle are usually 12-15 each, so if we use it once a month we're breaking even. I'm very disappointed in this decision but I kinda didn't figure they'd last very long if they didn't strong arm the theaters.
- neonhomer 9y agoThe Cinemark Movie Club is pretty nice, $9/month and you get 1 ticket and can buy another for $9. Then you get 20% off concessions.