What would you pay for unlimited Broadway shows a month?
I’ve got an incredibly informed group of investors who are always sending me news about ahead-of-the-curve stuff, from technology to marketing, to nifty new products. And one of the most savvy recently told me about a program he just signed up for called MoviePass.
MoviePass is a program that allows you to see unlimited movies in theaters for free, all for a low monthly fee. For only $35 a month in the NYC area, you can go to any movie any time for as many times as you want. Simple math will tell you the program will pay for itself if you see three movies a month.
Obviously, this is the latest attempt by the film industry (and specifically the theaters themselves, who also benefit from popcorn and candy sales) to try and pull people away from their Netflix and Hulu and get them into the theaters again.
Naturally, I couldn’t help but wonder if a BroadwayPass would work for our industry.
Years ago, on Altar Boyz, I introduced The AltarCard, (which looked like a MetroCard) which allowed my super fans to see the show as many times as they wanted in one month for only $199. We sold a handful.
But that was only one show.
Could a bunch of Broadway shows band together to sell a BroadwayPass? Would anyone buy it, considering that most people don’t go to the theater more than once a month anyway, and considering the cost would have to be at least the $199 of the AltarCard, if not more?
Would you buy it? How much would you pay?
Honestly, I doubt we’d sell that many. And given the number of different parties that it would take to get it set up, I have a feeling that if we tried to get it going, this initiative would get “lost in committee.”
But I do know we need more ideas like this that encourage people to get out of their homes and get to a theater more often than they would, for less money than they would have spent. Sure, the BroadwayPass would be something for the super fan, but if the Pareto principle is true, and 80% of our income comes from 20% of our customers, then we need to continue to come up with ways to keep these folks tethered to our theaters, before the tethers to their TVs grow even stronger.
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