A Black-founded film subscription service is aiming to make movie-going affordable and accessible. MoviePass—a ticketing platform—recently became the fastest-growing entertainment subscription service in history; outpacing giants like Spotify and Netflix, Variety reported.
It has served millions of people and that number is expected to drastically grow after the company recently raised $60 million to put towards expansion, the news outlet writes. It’s reported that it’s user base grew from 20,000 to over 2 million in a few months. Through the service—which was launched by Stacy Spikes and Hamet Watt in 2011—subscribers can purchase one movie ticket per day as part of a monthly fee of $10. MoviePass tickets are available at nearly 90 percent of theaters throughout the country.
In a digital era, the platform strives to bring people back to theaters to watch films. It also hopes that people will utilize the pass to explore new genres of film and has provided a cost-effective solution for them to do so. “Based on the dramatic increase in the number of MoviePass subscribers over such a short period of time, we believe MoviePass will continue to grow its subscriber base significantly,” MoviePass CEO Mitch Lowe told EurWeb. According to a survey conducted by the Hollywood Reporter and the National Research Group, the service has an 83 percent satisfaction rate.
There are several platforms that have been created by Black entrepreneurs that are disrupting a variety of different industries. According to Atlanta Black Star, in 2012, African American tech visionary Rodney Williams launched LISNR; a platform that provides data-over-audio technology.