MoviePass Inc., a leading technology platform revolutionizing the moviegoing experience, today announced a significant investment from Forecast Labs, a consumer venture group within Comcast NBCUniversal. This strategic partnership will see Forecast Labs spearheading new customer acquisition for MoviePass through targeted TV advertising campaigns.
This announcement follows MoviePass’s recent achievement of surpassing one million movies viewed on its platform and marking its first profitable year. The company’s growth trajectory has been significantly bolstered by advancements in artificial intelligence and machine learning, which have optimized the performance of the MoviePass Cinematic Marketplace. These technologies have enhanced the company’s proprietary credit-based system, delivering substantial value to members, creating marketing opportunities for studios, and driving higher attendance for partner theaters.
“Today’s investment will accelerate our mission to bring new technology and innovation to the film community, spurring growth and driving higher traffic to theaters,” said MoviePass CEO and co-founder Stacy Spikes. “We are also continuing to invest in the development of our cinematic marketplace so that studios and partner theaters can see maximum value by engaging directly with movie fans on the platform.”
RELATED – MoviePass Is Dead, But Former Chairman Wants To Rebuild, Blames Customers For Company’s Failure
MoviePass boasts the largest theater footprint of any subscription service in the U.S., featuring over 3,500 locations across all 50 states and reaching more than 97 percent of the market. This expansive network positions MoviePass as a pivotal player in the film industry, providing unparalleled access to movie enthusiasts nationwide.
Arjun Kapur, Managing Partner at Forecast Labs, expressed confidence in the new MoviePass model, stating, “We see tremendous value in the new MoviePass model and believe that with our access to media, we have the distribution advantage to enhance the MoviePass brand and drive new membership growth.”
