Studio Movie Grill Takes Equity Stake in MoviePass Launching Partnership With Exclusive Trial of Service
Studio Movie Grill and MoviePass announce investment and partnership further enhancing the dine-in and subscription relationship for guests.
Today Studio Movie Grill (“SMG”) announced a strategic partnership with MoviePass, the nation’s largest theatrical subscription service. The terms of the partnership are undisclosed. This makes Studio Movie Grill the first exhibitor to make an equity investment in the pioneering service. “This partnership is designed to accelerate the benefits of the MoviePass subscription model for exhibitors like SMG and its guests,” said Stacy Spikes, Co-Founder of MoviePass.
“Studio Movie Grill’s mission is to open hearts and minds, one story at a time. To that end, we continue to explore and invest in ways to promote and enable more guests to enjoy film going as often as possible. Creating an economical way to offer a subscription model seems like a great path to continue to pioneer the future of moviegoing,” expressed Brian Schultz, Founder/CEO of Studio Movie Grill. MoviePass and SMG will partner in experimenting with these new concepts combining the best of subscription and dine-in cinema to enhance loyalty and build new audiences. MoviePass has become well-known for producing theater attendance increases month over month from subscribers. See: Mather Report
Open Tab Concept
MoviePass and SMG will be testing an Open Tab feature. This will allow subscribers to pay for their ticket, meal, and drinks using the MoviePass app without ever needing to pull out a credit card. With the MoviePass patented geo-location based technology, the guest’s Open Tab will automatically close when they leave the SMG theater.
“Our data has shown that with MoviePass, subscribers tend to explore more movies they may otherwise wait to see post-theatrical release. This is a critical factor for non-tentpole releases, from midlevel to independent films that make up most of the release schedule. It is our mission to reduce the friction of the pay-per-view approach that has a very high customer acquisition cost to a risk free model that subscription delivers. Guests have frequently increased their spend from $100 to $400 per year on average with MoviePass,” said Spikes.
Studio Movie Grill theaters offer guests a premier theater experience with an extensive American Grill menu, premium bar and the latest digital projection and sound. Partnering with MoviePass allows Studio Movie Grill to increase movie-going attendance at their theaters and cater to the viewing habits of their loyal guests.
“We really see the MoviePass subscription-based model as an integral part of the future of the exhibition business and we’re excited to be the leader in implementing MoviePass in our theaters,” said Brian Schultz, Founder/CEO of Studio Movie Grill. “SMG is a conscious business focusing on what we call win 5 — where all stakeholders win. As such, being actively involved as an investor and partner in innovative steps towards enhancing the future of moviegoing is very important. We want to be able to give the guest what they want.”
Trial Offer from Studio Movie Grill and MoviePass
In launch of the partnership, SMG will be offering its guests an exclusive limited one-month trial of MoviePass for $10. This will allow one movie per day in theaters for an entire month. In order to receive this offer, guests must visit a Studio Movie Grill location. “We are so excited to be working with Brian Schultz and the team at SMG,” said Spikes. “They have a rare entrepreneurial spirit and are fearless when it comes to innovation. As the leader of the in-theater dining concept, they know their guests win by trying new things.”
MoviePass is a technology company dedicated to enhancing the exploration of cinema. As the nation’s premier movie-theater subscription service, MoviePass provides film enthusiasts the ability to attend unlimited movies. The service, now accepted at more than 98% of theaters across the United States, is the nation’s largest theater network. Mitch Lowe, formerly of Netflix and Redbox Entertainment, joined MoviePass as CEO in June 2016, teaming up with Co-Founders Stacy Spikes and Hamet Watt. www.moviepass.com
About Studio Movie Grill
Studio Movie Grill modernized the traditional movie-going experience by combining first-run movies with full-service, in-theater dining. Established in 2000, SMG has swiftly grown to 24 locations in 10 states. SMG, considered the leader of in-theater dining exhibition, recently announced a major expansion initiative with plans for additional sites throughout the country. SMG ranks #1 in box office in in-theater dining concepts. www.studiomoviegrill.com