JACKSON HOLE, Wyo.–(BUSINESS WIRE)–Reel Holdings, LLC, a Wyoming-registered fintech company that brings disruption to how movies are financed and viewed, has announced an alternative to HMNY’s (NASDAQ: HMNY) MoviePass called Reel Cash.
“MoviePass’s application of the Netflix subscription model for moviegoers was a good one, but they failed to find a market for their consumer data. Reel Cash gives moviegoers a market to sell their viewing data, then divides the proceeds of the sale between the moviegoer and the filmmaker who’s looking for financing and distribution,” said founder Jeffrey Carr. “MoviePass’s model, even if it wasn’t intended, became a zero-sum game.”
“All zero-sum games yield a pareto optimal distribution with resources concentrated in the hands of the few,” adds Dr. Rez Khan, Reel Cash’s lead developer. “By adding a degree of freedom through the REEL token, we are fundamentally altering the incentive structure. Filmmakers, moviegoers, and theater chains are all rewarded for their decisions. This optimizes profit by reducing risk in production for mainstream as well as niche films.”
Entertainment attorney Bianca Goodloe, who has advised on over 150 films and is an expert in film finance, is one of Reel Cash’s co-founders. “I describe Reel Cash as a mashup of Netflix, MoviePass, and Slated. My clients who are looking to finance two to ten million dollar features now have a streamlined process to obtaining funding where all parties benefit, including theater owners who get Reel-funded features for free in exchange for marketing support. All participants accept and spend REEL tokens, and every completed film becomes an underlying asset for the currency.”
Reel Cash also provides relief for pain points suffered by many film investors and above-the-line talent. “Unlocking the black boxes of viewing data and program ratings within the entertainment industry will allow individuals equitable leverage in negotiating their deals, financiers access to investment performance without having to resort to audits, and will allow the black boxes themselves transparency amongst each other, which helps support meritocracy within the ecosystem,” said Goodloe.
More information is available at the Reel Cash website.
Source: Business Wire Entertainment News