Choovie is a new service that offers dynamic ticket pricing by combining real-time data capture and consumer analysis, along with automated Netflix-style notifications. It currently has 40 partner venues. Pricing for cinema sessions is based on session popularity. When there are plenty of empty seats, the prices lower than when a session is nearing capacity.
Choovie is trying to attract investors though Equitise with plans to raise up to $700,000 in capital by getting people to invest $250 or more.
Choovie Co-founder & CEO Sonya Stephen said the company is making going to the movies affordable for everyday Australians as well as increasing revenue for cinemas.
“What’s really exciting about Choovie is that we can forecast demand for any movie session, at any cinema in Australia, and price it in real-time”.
Choovie thinks the opportunity lies is cinema occupancy rates which are less than 20% globally. One of the big issues, they say, is price. Recent data from Screen Australia shows that since the year 2000, almost 7 in 10 Australians (69%) have been to the cinema at least once per year, with an annual average of about four visits each year per person. But the frequency of visits declining.
But Choovie says their active subscribers buy an average of 13 tickets per year compared to Australia's average of 3.5 times.
There's little doubt price is a significant issue for many people. But there's quite a wide range in what's on offer. For example, my local Village Cinema quoted a price of $25 for an adult to see Ant-man and the Wasp in 2D on a VMax screen. But the local Reading theatre offered the same film for $10.50. While that was in a smaller theatre it wasn't a terrible experience by any stretch.
Looking at Choovie today, there are sessions for several new release movies at under $10. But they are still limited in how many theatres they look at with just 40 or so listed although that number is increasing.
Choovie is free to join although anyone can use the service without a membership. But members get notifications about new movies using their app - there are iOS and Android versions. If you join, there's a $10 credit you can use when you book a movie through the service.
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