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As founding CEO of MoviePbad, Stacy Spikes has already changed the way we think about paying for movie tickets. He is now pursuing a new approach: to offer a free ticket to people who watch advertisements of 15 to 20 minutes.
Spikes told me that when it comes to watching movies outside the theater, there are three basic business models: pay-per-view, subscription and advertising. MoviePbad has introduced a subscription-based approach in movie theaters, but Spikes (who stepped down as MoviePbad's executive director in 2016) said he's always wondering, "Why can not you have a version financed by advertising that will allow you to go to the movies for free? "
It's hard to imagine that digital advertising is worth enough to actually pay for this ticket, but Spikes insists, "You pay as you wish. This is not going to be a loss leader model. It's a business based on advertising revenue. "
For this to work, he said the new service, called PreShow, brings some innovations to the table. First of all, facial recognition technology ensures that you are actually present and watching the ad.
Spikes showed me this feature last week by showing me how his face unlocked the PreShow application. Once the film was chosen, he received a set of video ads specially selected for broadcast with this film – and each time he turned his gaze away from the screen or away too much from his phone, the ads would stop playing. (Apparently, the sensitivity can be increased or decreased depending on the user's comments.)
Spikes also stated that the commercials should be related to the film in one way or another, either by theme or by highlighting the products that also feature in the film. And they will always include an opportunity to interact more with the advertiser.
So, while 15 to 20 minutes may seem like a lot of advertising, it should be more interesting for the viewer than just watching a random collection of promotional videos. And for advertisers who are already paying for product placement in a movie, this could be a way to reinforce their message to consumers who are actually watching the movie. (Spikes also compared this to marketing packages that are usually broadcast before the show in theaters – hence the name of the company.)
Looking at any of these 15 to 20 minute packages, you should earn enough points to buy a ticket to the theater using a virtual credit card provided by PreShow. Technically, these points can be used to buy any movie ticket, but Spikes said you will not be able to win more than two tickets at a time, "so people do not stock up".
As to whether PreShow is in competition with its former company, Spikes said, "I do not think they are competitive in any way. If you compare a subscription platform to an advertising platform to a pay-per-view platform, these are different animals. "
Stacy Spikes
The goal is to start testing the service with a select group of users in the next three to six months, and to find these users, PreShow is launching a Kickstarter campaign today. The amount of the pledges ranges from $ 15 to $ 60, the amount you pay determining the time of access, and the number of guests you invite.
Spikes said he was less interested in fundraising (that's why the official goal of the campaign was only $ 10,000) and more by the fact of 39, attracting moviegoers willing to test the application.
"It's a way to make innovation happen more organically, as opposed to a mainstream audience," Spikes said.
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