LA Trip Ep. 5: Disrupting Hollywood With Stacy Spikes on MoviePass

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Well, welcome to We Built this brand.

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Um, my name is Chris Hill and today I am joined by Arusha.

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Arusha, thank you for joining us today.

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Thank you.

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Happy to have you on here, um, as my co-host today.

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It's exciting.

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I'm happy

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to be here, guys.

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I'm the host of Conversation with Curiosity and today

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we're at Power Forward with We Built This brand.

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Absolutely.

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And it's, uh, so exciting today that we get to speak to

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Stacey Spikes, the, uh, the co-founder of Movie Pass.

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And I guess, are you the full owner now of Movie Pass?

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Did you

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Yeah, we, we bought it back and, uh, have relaunched it and.

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Very excited about that.

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Yeah.

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Well, we'll dive into all that in, in just a little bit.

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So would love for you to just share with us,

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like, for those who don't know, what is MoviePass?

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So MoviePass is basically Netflix for movie theaters.

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It's a, the, it was the first theatrical subscription

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service that allowed you to pay a monthly fee and go to

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any movie theater you want in the US and go to the movies.

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It used to be a movie a day, but now it's more

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like 11 or 12, depending upon what plan you want.

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But the original product was you could go to a movie every day.

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That's awesome.

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Yeah.

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What a relief for all of us.

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Yes.

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Who are worried about people putting butts in seats for movies.

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Yeah.

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Tell us while you're working on that side, what are we doing

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at Movie Pass to make sure that those butts get in the seats?

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Well, you know, one of the new things that we've done, it's a first

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product line that we're introducing in 12 years, is we're creating

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the first fantasy sports league for movie going, so, oh my goodness.

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It adds a competitive layer that fandom can be

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competitive and we're really, really excited about that.

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So all that trash talking amongst your friends about how a

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movie's gonna do now each can put their money where their mouth is

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gamifying movie that.

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That's right.

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I love that.

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That.

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That's right.

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So is that, is that just for like a season of movies?

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Is that for like the Oscars?

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How does all that work?

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Yeah, so there's several different games that are there.

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There's um, there's Oscar season, there's, you can

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go deal with everyday box office, so doesn't matter.

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And then you have things like.

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What will Mission Impossible eight do compared

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to the other seven Mission Impossibles?

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Or where will this movie rank in Tom Cruise's whole history, or how will.

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Uh, Beyonce's concert film compete against Taylor Swift's film.

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So you can, you can do category battles, you can do all of this stuff.

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So Cool.

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Yeah, so it's a lot of fun.

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Uh, we were talking about you, you just got off stage and we

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were talking about how you as Movie Pass came in and really

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disrupted an industry that doesn't really love to be disrupt.

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Did that often, and, uh, many of the people

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watching today will be tech founders.

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Uh, tech investors, people who are interested in entertainment.

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Curious when you are, if you could give our audience a piece

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of advice as someone who came with a tech angle into a, a

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industry like entertainment that doesn't like to be disrupted

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and did the disruption, what are the things that you.

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Would recommend tech founders pay attention to when

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trying to disrupt an industry that doesn't usually

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like the help or isn't open arms to embracing change?

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Yeah, I think no matter what sector you're in, 'cause I think.

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All sectors have incumbents who don't want to give up market share to newcomers.

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Mm-hmm.

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Um, I think you need to figure out one key KPI that you're

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focused on and key performance indicator or some metric.

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And at the end of the day, your job is to make it cheaper, better, and faster.

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And so whether you benefit the consumer or you

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benefit the uh, B2B and the other businesses.

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That's your job.

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Your job is to shave off friction.

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That helps somehow make things better.

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That's all any businesses ever do, and so as long as you

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focus on that, stay focused on that number, you'll make it.

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That's great advice.

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Yeah.

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Excellent advice.

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Yeah.

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Yeah.

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Yeah.

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So let's, let's take it back.

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So let's talk a little bit about the inception of movie foam.

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What was your ha?

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The inception?

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No, you said movie, phone.

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I said did I really?

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The

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war?

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You did.

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You should just keep it in.

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How did

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I say that?

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You should

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just keep it in.

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We're we're

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gonna, you know, you just keep We do it.

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Have the opening failure.

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Yes.

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So we'll, we'll just put it all together.

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We're just gonna

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keep it in.

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We'll leave, leave that in.

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Gene.

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I'm, you can shame.

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I'm no longer the CEO of MoviePass.

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I'm the CEO of MoviePass.

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Now you now you're good.

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You're never gonna make more mistakes.

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That's right.

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I, that's exactly right.

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This, I've covered both bases for you.

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I really, in my head, I thought I said movie

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pass, so I don't know where that came from.

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It's um, it's the jet lag.

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I'll blame it on that.

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Um, coming from the East coast, but, um, like.

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I mean, I've mentioned this before, but like, you know, I remember

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a time when, um, Regal Cinemas had like a pass that you could get,

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and for a while I think they were actually trying to either, I can't

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remember if it was like fill the gap, the movie passed left or if

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they were trying to compete with, or it was a little bit of both.

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But, um, I remember

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this

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like.

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Yeah.

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Like what was, what was that a early journey like for you?

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In the beginning, we went to all of the studios and

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theaters and proposed this idea, and everyone was like,

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no one will do subscription and who cares about a pass?

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And they just thought it was a dumb idea.

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Um, we went around five years and got told no for five years.

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Then a OL, uh.

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Uh, it's like America Online back in the day.

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Thank dial up for explaining to our audience.

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Dial up.

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Um, did acquire movie phones.

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Yes.

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Who, who did acquire movie phones?

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Saved you there?

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Um, and so they made the first investment because they understood

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subscription businesses and they're like, we get subscription and we see that.

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There is room for a Netflix for movie theaters here.

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And that's what we were.

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And, um, once that started, then we didn't

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try and convince the theaters anymore.

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We just tried to convince the fans and they loved it.

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They, they loved the service.

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They loved that they could go to any theater they want.

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We made it really simple and easy and, um.

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It kind of took off from there.

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That's, that's really cool.

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So it grew and it got exciting, but then

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there, there came some challenges, right?

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Yeah.

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What were those challenges?

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Um, you know, the very first one was we had signed up through a supplier

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called, uh, movie tickets.com, who's since merged with Fandango.

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And so when.

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We ran into a contract dispute with them.

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They were able to turn off the whole business, and that

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was painful, but it caused, it caused us to create our

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own technology that then prevent them from turning us off.

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So I, I always say that everything doesn't happen to you, it happens for you.

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Well, when they did that, they actually created

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the opportunity for us to build our own tech that.

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Was unstoppable.

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And so we had a card that now the person will walk up to the kiosk

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and whether that theater was integrated with us or not, you walk up

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to the kiosk, you swipe and you go, and that was the big change that

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happened that that problem, we fix that, and that caused us to have

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a impenetrable moat That is always key in successful businesses.

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You've had quite a wild ride as a founder and I know

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that you have your new book out now, black Founder.

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That details for many of us founders out there, what that

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ride is and how to really ride the waves and the ups and

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downs, which, um, most of us will face is an inevitability.

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What is, uh, one of the key takeaways from your founder

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journey that you would like to impart wisdom to, to those

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who are getting ready to strap onto this ride and take, take?

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Um, they, they would, uh, take the, take the rollercoaster ride of founder dim.

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I, I think there's, the biggest thing I

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would say is, um, don't take it personal.

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Um.

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You are your product, but then you're not your product.

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Um, yes, you should take it.

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It should mean everything to you.

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But remember, it's this malleable thing that needs to fit in

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the marketplace and audiences need to be able to engage with it.

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So you have all of those things that have to happen, and sometimes

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we can get so caught in our heads about how we think it should look.

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You gotta leave room for.

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Building the new, new thing and you are the visionary, but

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when you build new it, it, it, you can be early, you can be

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late, you can, your timing can be off, your costs can be off.

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You know you're gonna build something very expensive like the new Apple headset.

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Uh, the Vision Pro Headset, very expensive.

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Great idea, but that cost is gonna have to come down.

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Even Apple deals with that.

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So you gotta remember, leave enough room for the flexibility to go through.

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Oh, the best advice is to remember, no matter what you think,

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it's gonna cost you twice as much and take twice as long.

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No matter how your best plans, it's gonna cost you

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twice as much and take twice as long as you think.

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And Stacey talks a lot about normalizing the

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peaks and the pitfalls of being a founder.

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Absolutely.

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Essential advice.

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Everyone has to go out and read this book.

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Absolutely.

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It's definitely worth checking out.

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Yeah, that's, that's really neat.

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So what, what do you see as the future of MoviePass?

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Um, we've got the new, uh, daily fantasy sports line coming, which is huge.

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Um, that's called Mogul.

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Uh, you can go to mogul.moviepass.com and you can check

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out, uh, that, and you can sign up to be on the wait list.

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We already have more than 400,000 people on the wait list.

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Um, we are excited because we think it.

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Gamifies movie going and it adds a layer of, of competition

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to something that's there, but no one's given it utility.

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Mm-hmm.

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And, um, so we're thrilled about that.

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And we think that it's gonna help drive traffic and it's gonna help, uh,

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you know, get even more engagement and more, uh, participation in ways that.

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Film fans don't, but sports fans do.

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And so we wanna bring that sports ness to the theaters.

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You know, I went to see Superman this past weekend and everybody

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was like in the theater with their Superman shirts and I

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thought, this is no different than if I went to a, a sports game.

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Yeah.

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And, um, but yet.

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There's things that sports fans have that

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we wanna make sure film fans have as well.

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We're on, we built this brand.

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So I have, I have a question about building that brand, and we

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talked a little off camera about this, but I think that that

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relationship with your consumer becomes so important and when Movie

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Pass was going through harder times, you mentioned when you spoke

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that you had movie pass fans that were basically calling Yeah.

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Calling to the Bring it back.

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To bring it back.

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Yeah.

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Can you explain how you created such a strong connection with your consumer?

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Um, you know, you just, so we were film fans and when we were talking

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before, I said I always use surf analogies, like if I added Afin to my

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board and it's helping me perform better, and then I share that, um,

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it's like we are already film fans and we're sharing efficiencies that.

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We do.

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Well, we're already in our office every Monday, Friday,

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we're saying what the weekend gross is gonna be.

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We're all predicting what it's gonna be.

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And then Monday we're seeing who was closest.

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We were doing that anyway as part of our culture.

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And so all we are doing is extending what we do in the office already.

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And we are always trash talking.

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Like, and, and among our employees, there's one

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who will be, uh, like some people were like.

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You know, uh, uh, Minecraft is not gonna make money.

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And yet

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it became a meme and people were like, I am Steve.

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Yeah.

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And they were losing their mind and throwing popcorn all over the theaters.

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And in our office it was very different.

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It was, that's not gonna make money.

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And then it was.

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Are you kidding?

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And it was projected to do 60 million by

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the professionals, and it did almost 120.

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It doubled what they thought.

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And so nobody knows.

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Yeah.

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But the fans are gonna be, it becomes a contact

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sport and it becomes a participation sport.

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Unlike anything that's ever been done before.

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So I think you just focus on geeking out about

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authenticity, being a fan.

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Yeah.

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And bringing that culture to what you want for yourself.

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Just bringing it to others.

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That's great advice.

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Yeah.

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Personal branding and branding overall.

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Absolutely.

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It is.

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Yeah.

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You wanna make that connection with a

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hundred percent the brand, so that's awesome.

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Um, well, as we wrap up.

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Um, I always ask this question at the end of the

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interview, which is, what brand do you admire the most?

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You know, we talk a lot about the other brands.

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I always love seeing the influence of people that are creating

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brands, building brands, like what is influencing them?

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So for you, what would that brand be?

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You know, I grew up around.

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Skater brands and surf brands, and they are still around today.

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They are.

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And there is a culture to them that I think no one has done.

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When you look at Vans, when you look at Burton, when

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you look at Billabong, when you look at, and they are so

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hardcore, when you buy one of those brands, it's a culture.

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So one of the things that.

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I've always, I grew up with and admired, was skate brands and surf brands.

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And even to this day, 20, 30 years later, they're still strong and powerful and

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there's a. There's a culture around them because it's related to an activity.

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And so I always say, make sure your product is related to an activity.

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And so our activity is not movie watching, it's movie going.

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And so we want to own movie going as an activity.

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And so you sitting on your couch and watching a movie is one thing,

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but you being in a theater and you getting your friends and you going.

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We wanna own that space.

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And so when you can own that, you own mind share.

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Mm-hmm.

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And so always put your brand.

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Make sure your brand is part of an activity.

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Airbnb's activity is going on vacation and renting someone else's home.

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Um, you know, using my iPhone.

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It's an activity.

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You need, something that the body engages in and

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that, that to me is how you build a great brand.

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Surf and skate brands.

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I love it.

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Yeah.

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Yeah.

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They're de they definitely have a long lasting history.

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I mean, just look at like Tony Hawk right now, just the

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resurgence of all the games that they're reissuing and everything.

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And still relevant in culture too.

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Exactly.

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I could ask you 13,000 more questions, but I'll save that for another day.

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Thank you so much for being with us.

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Thank you.

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Absolutely, Stacy.

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Thank you.

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This was a pleasure.

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I really enjoyed being here.

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All right.