Ted is the co-founder of Zash Global Media and Entertainment, a growing network of synergistic firms collaborating to transform the media and entertainment industries. Zash, a 360° marketing ecosystem fuelled by rich data and business experience, creates and distributes customized content for a diverse range of target markets using breakthrough models and digital technologies. Zash made headlines recently by purchasing a majority stake in Lomotif, TikTok’s main rival in Asia, which has over 350 million monthly user-created videos and expects to extend the site to the United States and beyond.
Get to know about movie pass
MoviePass is a monthly streaming programme that allows you to watch movies on demand. Ted Farnsworth made headlines in 2017 when firm, Helios and Matheson Analytics, purchased it, a budding streaming service. Ted saw the opportunity for success and implemented his innovative pricing strategy, dropping the subscription rate from $50 to $9.95 and enabling viewers to watch up to one movie a day. Pundits at the time were denouncing the movie theatre industry as dead and buried, citing rising ticket prices and the success of SVOD channels such as Netflix. Ted, on the other hand, recognized that the allure of the movie theatre remained powerful and that with the right offers, he could entice moviegoers back to the movies.
What does moviepass do?
Ted has big ideas about what Moviepass could do. Ted never intended to benefit from subscription fees; however, realized that the best way to make money was to exploit and sell usage data to help inform future media creation. It also attempting to persuade movie theatres to reduce admission rates for its subscribers, based on evidence that they spent more money on concessions than the average moviegoer.Ted also expected MoviePass to be completely integrated into every area of the movie theatre business in the future, including funding and promotion of new films. This started with a collaboration with Emmett Furla Oasis Films to form MoviePass Films, which went on to make several popular films.
Unfortunately, Ted’s thoughtful and creative development strategy was thwarted early on when several theatres, such as AMC, launched their streaming services to deal with MoviePass, flooding the market. In addition to this loss, MoviePass was forced to close its doors in 2019 due to a barrage of losses, including dishonest users exchanging credentials with non-subscribers.
Though Ted’s larger aspirations for MoviePass did not turn out, his now-famous streaming model was a hit, and his creativity earned him a prominent position in the field of digital media marketing and entertainment.