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MoviePass Receives Investment From Comcast’s Forecast Labs (EXCLUSIVE)
MoviePass has received an investment from Comcast's Forecast Labs after the movie theater subscription service has its first profitable year.
MoviePass, a movie-theater subscription service that emerged from bankruptcy with its original founders at the helm, has received an equity investment from Forecast Labs, a consumer venture group that is owned by Comcast. Spikes was pushed out of the company he helped create shortly after selling a majority stake to Helios and Matheson, which put its founder Ted Farnsworth and Mitch Lowe, a former Netflix and Redbox executive, in charge. The company attributes much of its recent growth to artificial intelligence and machine learning enhancements that have optimized its service and enabled customers to more easily access lower-priced showings.
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