MovieTickets.com, one of the largest movie ticket purchasing platforms in the US, now enables movie-goers to buy movie tickets with bitcoin at 985 theaters.
The move was made possible through an integration with bitcoin payment processor GoCoin. As a result, theater chains that use the credit card processing services offered by MovieTickets.com will be able to accept bitcoin for any film offered.
GoCoin CEO Steve Beauregard indicated that this includes Regal Cinemas, the nation’s largest theater chain with more than 500 locations. Holdouts notably include AMC Theaters, which itself boasts more than 300 locations in North America.
The partnership is the latest betwen GoCoin and a movie industry firm, following the May announcement that it was in talks with production studio Lionsgate Films.
Beauregard told CoinDesk:
“We think that the future of digital content is being able to use digital currencies to purchase content.”
The promotion was inspired by the promotional strategy for Dope, the hit indie film that scored big at Sundance and earned high-profile celebrity fans from James Franco to Russell Simmons.
MovieTickets.com CEO Joel Cohen suggested that, however, the company saw the potential in enabling the technology in more of its offerings.
“Our intention is to keep the option available beyond the film’s theatrical run for other films to benefit from. The more payment options we offer, the broader our customer base becomes,” he told CoinDesk.
Hailed for its progressive take on youth black culture, Dope centers on the exploits of modern high school students inspired by 1990s-era hip-hop. Notably, bitcoin plays a role in the film itself, as its protagonists use the digital currency to profit from the illicit sale of ecstasy online.
As for the decision to include bitcoin as part of the marketing for the film, this was accomplished through a partnership between US distributor Open Road Films, MovieTickets.com and GoCoin.
In statements, Cohen aimed to describe the company as open to innovative and unique partnerships that drive attention to moviemakers.
“It’s cool, it’s original and we’re going above and beyond the common boundaries to drive ticket sales,” Cohen said.
Dope is scheduled to be released in the US on 19th June.
Hat Tip to The Wrap
3-D movie image via Shutterstock