First-of-its-kind mass market service will cost $20,000
If you have a "home theater" in your house, there's always been one thing missing that you could only get in a real theater - see a new first-run movie before being released to home media. But not for long.
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A new start-up called Prima Cinema wants to deliver brand new movies directly to your house. But if you think movie tickets are expensive, you might not be the kind of customer Prima hopes to attract.
To see a first-run movie on the Prima platform will cost $500. Oh, wait, and you'll also have to pay $20,000 to install the system in the first place.
This move just goes to show the levels to which the movie industry is going to in order to keep the money coming in.
It's unlikely to really keep anyone away from the theater, because it's such a niche market. If anything, it will reach out to people who are too busy or too anti-social to go out to the movies.
Prima has already gotten $5 million in start-up capital from such huge companies as Best Buy and Universal Pictures.
"While this is a niche market, there is a chance for significant upside. And precisely because it is a niche market, that upside should come without harming any of our existing partners or revenue streams," said Universal chairman Adam Fogelson.
DVD spending is on the decline, theaters are raking in fewer customers than ever before, and everyone is looking to new forms of entertainment. But if there's one group of customers that's always looking to spend money on something new and exclusive, it's the luxury crowd.
In fact, people with luxury spending habits are forecasted to be on the rise this holiday shopping season and beyond, so it's where a lot of companies are turning their attention in the post-recession environment.
So, if you've got $20K burning a hole in your pocket, pick up the commercial popcorn machine, cash register, and ICEE maker so you can literally have everything a normal theater has.
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