MoviePass service extends its Beta Program to 9 more cities in the United States. The service and platform also revealed that it secured seed funding in a bid to support its relaunch.
MoviePass Service Extends Its Beta Program to 9 More Cities in the United States
MoviePass, a company that once ruled over the movie ticket subscriptions industry on Thursday said that it is expanding its beta program into nine more cities in the US and has also secured seed funding. The service at the moment is live in cities including Tampa Bay, Chicago, and Atlanta.
The seed funding reportedly will help the company to develop and implement new technology such as virtual reality cinema experiences, the company revealed.
MoviePass Reaction to the News
“As more fans return to the movies, we will continue to build on our vision to develop innovative technologies that enhance the moviegoing experience,” CEO and co-founder of MoviePass Stacy Spikes said. “Soon, we will be introducing new ways for moviegoers to experience their favorite films and engage with their favorite characters.”
Animoca, a gaming software, venture capital, and Blockchain firm spearheaded all the financing efforts. Other firms such as Emerald Plus, Claritas Capital, and Harlem Capital, also helped in securing funding, but MoviePass however did not state how much funding was gathered.
“MoviePass has a strong vision for technology in the field of entertainment,” Yat Siu, executive chairman and co-founder of Animoca brands said. “We believe that MoviePass will help to define the future of cinema.”
The Development of MoviePass in the Past Couple of Years
MoviePass has gone through many iterations over the last couple of years. The service at a time offered a $50 monthly subscription that let moviegoers watch unlimited movies. And after the service was discontinued in 2019, MoviePass relaunched it this past September.