The much-maligned MoviePass announced it is relaunching as MoviePass 2.0, featuring software that monitors to make sure a customer is actually watching ads. News of MoviePass’ revival came up in November after co-founder Stacy Spikes was granted ownership of the company by a Southern District of New York bankruptcy court judge. The new and improved company will implement a credit-based system that allows customers to receive credits, depending on the tier they sign up for, in exchange for movie tickets. These credits can then be earned by watching ads on the MoviePass app, and the facial recognition technology named PreShow verifies the ads are indeed being watched.
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“This is happening only on your phone, uniquely to you, and the credits that earn are your credits that go into your virtual wallet that you get to spend, so it’s your own money,” Spikes said. A representative for MoviePass confirmed PreShow uses the front-facing camera on smartphones for verification.
Other benefits being offered by MoviePass 2.0 includes theaters setting their own ticket prices depending on peak hours, credits rolling over, and the ability for customers to still book tickets directly from the MoviePass app. For theaters that aren’t partnering with MoviePass, a customer can use the app to choose a showtime, but they then have to buy the ticket in person using a credit card.
For those who want to get in on the MoviePass financial action, they can invest in the company through the MoviePass website. Investors will get discounts and other benefits, which include a lifetime membership.
“I can confirm that we acquired MoviePass out of bankruptcy on Wednesday,” Spikes toldย Business Insiderย in November. “We are thrilled to have it back and are exploring the possibility of relaunching soon. Our pursuit to reclaim the brand was encouraged by the continued interest from the moviegoing community. We believe, if done properly, theatrical subscription can play an instrumental role in lifting moviegoing attendance to new heights.”
Spikes purchased MoviePass from Helios and Matheson Analytics, its former parent company. Helios and Matheson Analytics went bankrupt, allowing Spikes to swoop in and take back ownership. Of course, MoviePass suffered alongside movie theaters during the pandemic, as shutdowns left theaters closed. Even with theaters reopening, the public’s return has been slow, though blockbusters like Spider-Man: No Way Home have found success during the pandemic.
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