New Proprietary Technology From MoviePass Drives Innovation for Theater Subscription Service

NEW YORK, NY--(Marketwire - Oct 2, 2012) -  MoviePass, the nation's premier movie theater subscription service, announced the launch of its new proprietary payment card technology that aims to boost theater attendance nationwide. MoviePass provides film enthusiasts the ability to attend unlimited* movies for a monthly fee. The invite-only launch will be rolled out to current members as well as the nearly 75,000 individuals on MoviePass' waitlist. Current members are able to invite up to 10 friends to join the service, as part of the invite-only launch. Prospective members can also join the waiting list at MoviePass.com.

"MoviePass gives moviegoers the opportunity to see the movies they want, at the theaters they want -- perfect for film enthusiasts who are at the heart of Hollywood's economic engine," said Stacy Spikes, CEO and cofounder of MoviePass. "Moviegoers now have more at-home entertainment options than ever before, and MoviePass is dedicated to driving traffic back to theaters and reducing the friction of moviegoing."

MoviePass is introducing an innovative geo-location based technology via their membership card, which acts like a debit card. The card is activated with the MoviePass iPhone App, released today; Android to follow. This technology allows members to securely use their subscription to go to any theater of their choice that accepts major credit cards.

How It Works:

• CHECK-IN AT THEATER: Members use their MoviePass app to check-in at a theater of their choice and select a movie and showtime, which unlocks their MoviePass membership card, which acts as a reloadable debit card
• PURCHASE TICKET: The member then retrieves their ticket for their desired movie by visiting the theater kiosk and using their MoviePass membership card, exactly how they would use their own credit card at the kiosk

See MoviePass in Action

"MoviePass recently completed nine-months of closed beta trials and saw members increase their movie theater attendance by as much as 64 percent and their concession sales by 123 percent," said Hamet Watt, cofounder of MoviePass. "This should come as very exciting news to our industry as we look for new ways to engage with moviegoers."

MoviePass is offering variable price testing with a national average of $29.99 a month. Smartphones are required for the new service. MoviePass is currently invitation only with general availability of the service to be announced in the near future.

Major investors including True Ventures, AOL Ventures, WME, Lambert Media, Nala Pictures, Brian Lee, Diego Berdakin, MJ Eng, Ryan Steelberg and Adam Lilling back MoviePass.

*The service is available at theaters that accept major credit cards; subscribers may choose which of those theaters they wish to attend. Monthly fee allows members to see one 2D movie per day.

About MoviePass
MoviePass is the the nation's premier movie theater subscription service, providing film enthusiasts the ability to attend unlimited movies. Founded by leading technology and entertainment entrepreneurs Stacy Spikes and Hamet Watt, MoviePass is backed by major investors including AOL Ventures, True Ventures, Lambert Media, Moxie Pictures, Brian Lee, Diego Berdakin, MJ Eng, Ryan Steelberg and Adam Lilling. Launched in 2010, the company is headquartered in New York. For more information or to request an invite, visit www.moviepass.com.