🌟 [ 49 ]   MoviePass CEO says AI and new credit system helped business reach first year of profitability [ @Yahoo Finance ]

Super Bowl weekend is historically bad for the box office. According to the Hollywood Reporter, 2024 was the worst weekend in over three decades, outside of 2021. Stacy Spikes, MoviePass Co-Founder and CEO, joins Yahoo Finance to discuss the disappointing weekend for the box office and how it impacts his company. When asked about how to boost users to platform when there are not a lineup of movies getting people to theaters, Spikes replies: The major tentpoles aren t the drivers in people wanting a subscription platform where they re going to experiment more. We find they re actually more interested in the independent titles, and that s where the experimentation happens . With the Dunes and the Spider-Mans and the IMAX titles, that really wouldn t change our business. It s just not enough of those titles, but it s all of the smaller ones like we saw with Origin, we saw with Poor Things a lot of the Oscar nominees. That s where, you know 75% of our members are under the age of 35 and they like to experiment. When it comes to profitability, Spikes notes the company has benefiting from both the use of AI and its new credit system. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple ([ 🔗 Click ‼️ ] or Android ([ 🔗 Click ‼️ ] - Follow Yahoo Finance on social: X: [ 🔗 Click ‼️ ] Instagram: [ 🔗 Click ‼️ ] TikTok: [ 🔗 Click ‼️ ] Facebook: [ 🔗 Click ‼️ ] LinkedIn: [ 🔗 Click ‼️ ]

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🌈 🔎 MoviePassCEOsaysAIandnewcreditsystemhelpedbusinessreachfirstyearofprofitability 🌈