The Future of Cinema - NFT’s, Web3 and DAO’s - TOKEN2049 London 2022

so I'm the CEO and founder of MoviePass and we're in the U.S and we are a theatrical subscription service that's web 2 that's going to web three so part of the big thing while I'm here is talking about how uh you know Cinema isn't something that we think is broken that people don't want to go to or experience if anything it just needs a technology upgrade and we we're the company that's starting to do that a lot of people don't know that movie going is actually the number one out of home entertainment activity in the world people go to movies more than they go to sporting events or amusement parks our live musical events than anything else there is so just in the U.S alone if you're able to get a certain percentage of 30 percent of the moviegoers to become subscribers you would actually double the size of box office in the U.S alone so that's part of the thing that we're focused on because we find it changes Behavior so historically these are some of the higher average where we've had three million subscribers who in a single year saw over 50 million movies with four percent market share with an ARR around 450 million dollars so we're focused on three different areas for where we're heading with the metaverse and so there's the marketplace there's metaverse Cinema and then there's a dow so what I'm going to do is walk through each of these and kind of give you a breakdown of what they are so with the web 3 Marketplace there's there's basically four areas that we see that web3 tools can lift this industry to its new level and New Heights so one of the things is focused on a token economy so what we do is for each member we give them a certain number of tokens for their subscription in that Marketplace they're able to trade that for movie tickets they're able to exchange those tickets back and forth with each other so maybe I book and go to a movie but I can't go or I decide I'm not going to go well instead of trying to sell that you can exchange that right there inside of the app um is anybody going to go see the new Black Panther movie any of you guys gonna go see it no all right well a lot of people said yes so it opens this weekend just in case so that's one of the first things that it allows you to do that in in that economy the second thing is the thing called tasking so whether you do things like You're an actor or you're uh an acting teacher or you do things in the industry this economy allows you to do taxing where you can exchange your services for other things right there inside of the ecosystem there's some exciting stuff about that so let me give you an example of how that works so movie studios often want feedback and do focus groups and other things and they have very large or very small number of people that they're asking what do you think can you give us feedback but what we create in this economy is the ability to ask a very broad number of people but instead of giving all of those people cash you're able to give them digital currency that they can use inside of the system so they're able to get better feedback on trailers posters character development other things in the movie plots that they're often doing with small focus groups and so you play a bigger role in how that happens the other another area so has anybody ever seen a James Bond film anybody Okay so those movies have huge sponsorship Partnerships so for instance you have Heineken you have uh uh uh Omega watch you have Hugo Boss suits and what they do is they actually cast those things in the film well they do very big advertising campaigns which we all see all of those ad dollars are spent to drive traffic back to the movie right well but they spend that ad dollars on YouTube or Google and a small number of it makes it back so what they're looking at doing now is they can say to you hey if you watch my branded content on this platform I'll give you the movie ticket for free and so that's that closes the Gap where there's now no one standing in between you and those brands that want access to you and to be able to communicate with you directly so that's that's kind of the whole sponsorship category and last is the very big Market of Collectibles and commemorative material so a lot of people don't know this but the the collectible Market is as big as 400 billion dollars a year in exchanges and so over here on the right is actually a what was originally a seven dollar Boba Fett doll from one of the second Star Wars that was released back in 1977. it actually said a Guinness book record for selling for 236 thousand dollars about six months ago and one of the reasons was this piece they used to sit on his back and it would shoot off you would press it press a button and it would eject off of him it sat right inside of here but they determined that because it was a choking hazard not to release the product so there was a limited number that were out in the market then they pulled it back and so it became a collectible that there's supposedly about 10 or 15 in the world um on the most recent Matrix they started doing limited edition nfts where now movies are starting to do these air drops with these limited edition pieces so they're starting to tie it in with going to the movies being engaged with it that you're seeing a a digital collectible Market emerge there as well so this is one of the areas that were really exciting because with us being involved in the ticketing and transaction layer you're being able to create that engagement at that level so we think this is going to be a very big market and this is one of the first spaces that you'll see a real world application start to come in place using nfts the other space that we that is really really huge it's what's called fan art so right now the studios there's no real Commerce that happens here but you have these artists that go and they create these works and today they just kind of live on the internet and nothing happens with them but we believe that there's a very big direct to Consumer to Consumer fan art world that also can benefit from a lot of the technology that nfts have so the studios will allow a certain number of them and they'll allow you to exchange them and trade them but there's no real market so what they're doing is they'll make a real poster a real art and there's a handful of dealers who you can go there and buy them but it's not a world that can scale so we've already seen again there's this huge opportunity there that's just sitting there waiting for web 3 technology to be able to take off and I'm really excited about this area the third area is are you guys familiar with poapps so poapps are proof of attendance protocol badges so in the U.

S the Dallas Cowboys did a huge deal with Bitcoin that now when you have a ticket and you go to a game that digital ticket will actually unlock an entire set of rewards and things related to the game so what's it what's different from this is let's say I buy a ticket but nothing happens to my ticket but if I actually go and I attend it it completely unlocks an experience that's digital that's only made for people who've gone and so you can do that with nfts and with with block blockchain technology where you can't do that with say a web experience and you say okay you you went and logged in but now historically someone says hey not only was that movie great but I was there on opening weekend and they actually have proof that they did it and they're rewarded so the movie studio can also go back in time and say hey thank you for seeing the first one here's a sequel and if you see it again we're going to give you something else because you also supported us the last time they're not able to do any of that and tie that that in from a promotional standpoint today um so we really think this is going to be a huge area as well so I'm really thrilled about this next piece so one of the challenges is what we call windows in the movie industry so right now there's three Windows there's the theatrical window there's a pay-per-view window a pay-per-view is either I rent it or I buy it and then there's a streaming window where they put the title on streaming well those windows are starting to collapse and merge but they're running into a problem where if I put it on a streaming service I don't make as much money as if I actually get you to buy a movie ticket so what we believe is part of the solution is to actually have a VR experience so think of a sporting event where there's a game but the only people that can see the game are at the the stadium well the if you unlock that then people at home can also experience it so for example if there's a move if Dune is going to play at your local theater at seven o'clock I could buy a ticket through the theater for a seven o'clock show go into VR and experience the same experience of that seven o'clock show simultaneously if I want to do it in the metaverse you will be able to walk into that theater's virtual Cinema sit down in that seat and watch the exact same show at the exact same time and so that capability we filed our provisional patents and we have coming within the new future and so we're excited to be able to demonstrate this technology all right last one and and um so Dows um you guys are Insider so I don't have to explain everything about a dow but in the movie industry a lot of people are focused on what we call top down Dows a top down Dow is hey give me money I'm gonna make a movie and I'm gonna give you some fractional participation in that movie a bottom-up dow is you take a group of people and you say we're gonna fund the movie industry but instead of giving you cash we're going to buy your movie tickets right which is where you're trying to get anyway and so what we do is the back end or what we call the last mile which is the hardest mile a director wants people to see their film and they want to sell tickets to it so what we're doing is doing the selling portion on the back end and guaranteeing that box office for opening weekend through what we call a purchase style it's the equivalent of a cooperative of where like a Farmer's Co-op what happens is the farmers put their money in when the produce is finished they come and they give the produce to those who paid in advance for that so that's how basically the Dow Works which we which is the bottom-up doubt so those are the three areas that we have coming Anna mocha Brands is our lead investor we're really excited we're going to be announcing that and um and that's how you can reach me which is really easy that's my email there you go Stacy what an absolute presentation you Legend thank you so much for that thank you and it's really interesting we know because once we've seen it we can't unsee it right we understand the ability to be there first we understand the ability to be remunerated we understand the ability to be a supporter I'm really interested to understand that how are the traditional uh historic big movie houses adopting to this because ultimately it's a little bit like the record business in the in the 90s with regards to CDs and then of course the streaming services they resisted it because we were coming in to democratize how are the big picture houses in the likes of valet looking at this are they welcoming to it are they resisting or are they bringing you in I mean it's like classic you've got the stakeholders that are resistant to it very slow to move it's been working for a hundred years why change it right and uh so it's it's very disruptive but we're Forward Thinking and kind of delivering that disruption uh but we we know change is coming it's inevitable we've seen it in the music industry absolutely and um technology never goes backwards and it's amazing to see in the music industry where people will be remunerated for actually what they contribute and with micro payments and the ability for artists to have different streams within a within a track once it gets paid for that they do the SMART contract get remuner right away is really revolutionary anyway a big round of applause for States you want an awesome presentation thanks Stacy