Name: MoviePass 的動盪經濟學！ (The Shaky Economics Of MoviePass)
Uploaded: 2026-02-14T17:20:46.000Z
Duration: 6 min 22 s

to 不定詞

It's likely that by now you've heard about MoviePass, the subscription service that allows you to see one movie per day in theaters for $9.95 a month.

你可能已經聽說過 MoviePass 了，這是一個訂閱服務，讓你每個月花 9.95 美元就能在電影院看一部電影。

情態助動詞 A2

Except you can't see a movie more than once.

只是你不能重複看同一部電影。

You have to be 100 yards from the theater to book the ticket, and

你必須離電影院 100 碼才能預訂電影票，而且

during search times, you might have to pay a little extra.

在搜尋時間，你可能需要多付一點錢。

But despite all that, MoviePass is still a pretty good deal.

但儘管如此，MoviePass 仍然是個很划算的交易。

In fact, the deal might be too good for MoviePass.

事實上，這個交易對 MoviePass 來說可能太划算了。

Just as you've probably heard about MoviePass, you've probably also heard the company is losing money faster than a Tarantino henchman loses.

就像你可能聽說過 MoviePass 一樣，你可能也聽說過這家公司正在賠錢的速度比 Tarantino 的手下還快。

MoviePass charges $9.95 a month, and the average movie ticket in America costs $9.16.

MoviePass 每月收費 9.95 美元，而美國的平均電影票價是 9.16 美元。

When you see a movie with MoviePass, they pay the full price of the ticket, as if they were buying a normal ticket for a friend.

當你用 MoviePass 看電影時，他們會支付電影票的全額，就像他們在幫朋友買一般票一樣。

That means if you see just two movies a month, MoviePass is losing double what it gains from you, more if you're buying in a city where ticket prices are more expensive.

這意味著如果你一個月只看兩部電影，MoviePass 虧損的金額是你付費的兩倍，如果你在票價較貴的城市看電影，虧損會更多。

Multiply that by 3 million friends and you can see why MoviePass is in a lot of trouble financially.

將這個數字乘以三百萬個朋友，你就能明白為什麼 MoviePass 在財務上陷入了嚴重的困境。

According to the best estimates, the average MoviePass subscriber sees about 1.5 movies a month.

根據最好的估計，平均每個 MoviePass 使用者一個月看大約 1.5 部電影。

And even though that's not three movies, or even two, the numbers are still lopsided, and

即使這不到三部電影，甚至不到兩部，這個數字仍然是不對等的，

that 0.5 of a movie is bleeding them dry.

而那 0.5 部電影正在讓他們血本無歸。

In 2017, the company that owns MoviePass, Helios and Matheson, lost $150 million.

在 2017 年，擁有 MoviePass 的公司 Helios and Matheson 損失了 1.5 億美元。

And in May, the company revealed in an SEC filing that it's losing $21.7 million per month on average at that time.

而在五月，該公司在提交給美國證券交易委員會的文件中透露，當時他們平均每個月損失 2170 萬美元。

And at that rate, they only had enough cash available to stay solvent for two more months.

照這個速度，他們只有足夠的現金來維持營運兩個月。

It's two months later now, and, well, the website still works, so that's a good sign.

現在已經兩個月過去了，嗯，網站還能正常運作，這算是一個好兆頭。

If you're consistently losing money as a business, there's only one way to stay afloat.

如果你的公司一直在虧錢，只有一個方法能讓你撐下去。

By finding investors to give you money in the hope that someday you'll be profitable in the future.

那就是找到願意投資你的人，希望你未來能賺錢。

Investors like those investing in Spotify or Uber or Dropbox or Blue Apron, all companies that have yet to become profitable.

就像投資 Spotify、Uber、Dropbox 或 Blue Apron 的投資人一樣，這些公司都還沒賺錢。

In fact, of the 108 companies that went public in 2017, over three quarters weren't profitable.

事實上，在 2017 年上市的 108 家公司中，有超過四分之三都沒有賺錢。

Now, not all unprofitable companies are created equal.

不過，不是所有虧錢的公司都一樣。

Amazon was unprofitable for years, but it had the revenues.

亞馬遜很多年都沒賺錢，但它有營收。

It was just putting them back into investments.

只是把營收都重新投入到投資裡。

In the case of MoviePass, the revenue just isn't enough to pay for the costs.

以 MoviePass 來說，營收根本不足以支付成本。

It says it always knew it was going to lose money on its path to acquiring more subscribers and greater market share.

他們說，他們一直都知道，在爭取更多訂閱戶和更大的市場佔有率的過程中，他們會賠錢。

And to be fair, the growth of the company has been impressive.

說真的，這家公司的成長確實很驚人。

Last August, MoviePass only had 20,000 subscribers when they lowered their price to $10 a month.

去年八月，MoviePass 的訂閱戶只有兩萬人，當時他們把月費降到十塊美金。

they're approaching 3 million, with projections of up to 5 by the end of the year.

他們的訂閱戶快要達到三百萬，預計年底前甚至可以衝到五百萬。

the reason they haven't yet raised it substantially to stem their losses, is that it's supposed to attract the 51% of moviegoers who only see about three to six movies a year, people who might pass on $20 or even $15 but can't resist 10.

他們至今尚未大幅漲價來止損的原因，是因為這樣做 supposed to 吸引那些一年只看三到六部電影的觀眾，大約佔了五成，這些人可能不會花二十塊或十五塊，但絕對無法抗拒十塊的價格。

These people, the theory goes, will bring the average movie per subscriber down.

這種理論認為，這些人會降低每個訂閱戶平均看電影的數量。

But MoviePass needs to look for cash in other places, too.

但 MoviePass 也需要從其他地方尋找現金。

The original idea was that it could use the app to track the moviegoing habits of its use, sell that data to studios for targeted advertising and to restaurants nearby the theater, who could advertise to customers when they're in the area.

最初的想法是，他們可以透過 App 追蹤用戶的觀影習慣，將這些數據賣給電影公司用於精準廣告，以及賣給電影院附近的餐廳，讓這些餐廳可以在用戶在附近時向他們打廣告。

MoviePass thinks that eventually, if it can grow enough, it can negotiate a percentage of the new business it's bringing to theaters and the surrounding stores.

MoviePass 認為，如果他們最終能成長到足夠大的規模，就能協商從他們為電影院和周邊商店帶來的這些新生意中抽取一部分比例。

It thinks that it could potentially even get a slice of a theater's only real moneymaker, concessions.

它認為甚至有可能從電影院唯一真正賺錢的項目——零食飲料——中分一杯羹。

Let's see what the CEO of America's largest theater chain has to say about that.

讓我們來聽聽美國最大連鎖影院的執行長怎麼說。

AMC has absolutely no intention, I repeat, no intention of sharing any.

AMC 完全沒有意願，我再說一次，完全沒有意願分享任何。

I repeat, any of our admissions revenue or concessions revenue.

我再說一次，任何我們的門票收入或零食飲料收入。

There are a lot of forces at work in the movie theater ecosystem, and

電影院生態系統中有許多力量在運作，

而 MoviePass 將它們全部攤開來。

大家看電影的總體數量正在減少。

So theater chains have been raising ticket prices.

And higher ticket prices means people see fewer movies still and don't take chances on what they do see.

票價變高，大家看電影的數量就更少，而且也不敢冒險看沒看過的片子。

Most ticket revenues get kicked out back to the studios, who leverage their power to get even more percentage.

大部分的票務收入都給了製片廠，製片廠再利用他們的權力爭取更多比例。

And now here comes a subscription service devaluing the price of a ticket in the minds of consumers, asking for a cut of concessions.

現在又出現了一個訂閱服務，降低了消費者心中票價的價值，還想分一杯零食飲料的錢。

And yet MoviePass is bringing them business.

但 MoviePass 卻能為他們帶來生意。

Its users are taking chances again, seeing movies on a whim again.

它的用戶又開始敢嘗試新片了，又會隨興去看電影了。

It's bringing more people to the movies more often.

The studios don't want to pay for the data, the theaters don't want to cut them in, and

但電影公司不想付錢買這些數據，戲院也不想分一杯羹，

MoviePass subscribers are just seeing too many movies.

MoviePass 的訂閱戶看了太多電影了。

There's a size at which this would all change 20 million subscribers?

如果達到某個規模，情況就會改變，像是兩千萬訂閱戶？

Can MoviePass get to that critical size before it runs completely out of money?

MoviePass 能在燒光所有錢之前達到那個關鍵規模嗎？

Until then, it is genuinely one of the best deals in town, something I thought I'd never see.

在那之前，這真的是鎮上最划算的交易之一，是我從沒想過會出現的。

A bunch of rich investors taking millions of people out to the movies.

一群富有的投資人帶著數百萬人去看電影。

Thank you so much for watching this episode was brought to you by Skillshare, an online learning community for creators with more than 18,000 classes and everything from graphic design to film editing to finance and IT security.

非常感謝收看這集節目，本集由 Skillshare 贊助播出，這是一個創作者的線上學習社群，提供超過 18,000 堂課程，涵蓋從平面設計、電影剪輯到金融、資安等各種領域。

You know, when I learned Photoshop, I learned it through this mishmash of disconnected YouTube videos.

你知道嗎，我學 Photoshop 的時候，都是透過東拼西湊的 YouTube 影片學的。

And I think the process would have gone a lot faster if there was a class dedicated to teaching me everything about that program in a systematic way.

我想如果有一門課程系統性地教我關於那個程式的一切，學習過程會快很多。

Learning new skills is really valuable to me because whenever I learn a new skill, it's like a bunch of new ideas are suddenly unlocked in my head.

學習新技能對我來說真的很有價值，因為每當我學會一項新技能，就像腦袋裡突然解鎖了一堆新想法。

我想，我能用這個做些什麼呢？

And that always, always, always helps me With Writer's Block A premium membership begins around $10 a month for unlimited access to all courses.

這總是、總是、總是能幫助我克服寫作瓶頸。高級會員方案每月約 10 美元起，即可無限暢學所有課程。

But the first 500 people to sign up using the link in the description below will get their first two months for free.

但前 500 名透過下方說明欄連結註冊的人，可以享有前兩個月免費。

In those two months, you could easily learn the skills you need to start a new hobby or business.

在這兩個月裡，你就能輕鬆學到開始新嗜好或事業所需的技能。

More importantly, the skills you learn will help give you the ideas for what that business or art project could be.

更重要的是，你學到的技能會給你靈感，知道那個事業或藝術專案可以是什麼。