By acquiring movies and working with a film distributor, MoviePass is likely trying to increase its sources of revenue. In short: if MoviePass takes a share, it could do more to promote a movie and help its success.
Via MoviePass Ventures, DVD, on-demand, and streamable films will be available to those with a MoviePass subscription. In Park City, MoviePass is in the midst of a day-long content series called "Off-Script: The Future of Film", which includes panels with Lowe, Elijah Wood, plus Daniel Noah and Lisa Whalen, who produced Midnight selection "Mandy" starring Nicholas Cage.
MoviePass is now purchasing approximately 3% of domestic box office.
"We aren't here at Sundance to compete with distributors, but rather to put skin in the game alongside them and to bring great films to the big screen across the country for our subscribers", said Ted Farnsworth, CEO of Helios and Matheson Analytics Inc, MoviePass's primary owner.
"It's only natural for us to double down and want to play alongside [distributors] - and share in the upside", he said.
According to MoviePass, the company is now purchasing about three percent of the domestic box office although its purchasing is in excess of 10 percent when a particular film is heavily promoted within its app. "We're open for business". Lowe has led the company since June 2016, when it had just 20,000 customers.
MoviePass has grown rapidly since dropping its prices to a flat fee of $10 per month in August.
Earlier this week, MoviePass announced it was hiring Natasha Mulla as chief marketing officer and was specifically tasking her with enlisting customers in markets such as Dallas and Nashville, where tickets are cheaper as a way to offset its customers in higher-cost markets. And the company will be able to leverage its subscription service by heavily marketing its own movies to MoviePass subscribers. Twelve months of MoviePass costs $120, more than the average American spends annually going to the theater (in 2013, the average citizen went to the cineplex five times).