‘Dope’ becomes first film to accept Bitcoin ticket payments
Tue 16 Jun 2015
Open Road Films has announced this week that its bold move to allow cinema-goers to use Bitcoin as a form of payment for tickets to its latest release Dope.
In a first for film studios Open Road has chosen the controversial payment method as a marketing strategy, given the central role of the cryptocurrency in the teen comedy. The film focuses on a group of friends who sell drugs online in exchange for Bitcoin. An early line hears lead character Malcolm say, “I just read that money as we know it is dead. Soon the world is only going to buy and sell products using Bitcoins. It’s like a complicated math equation.”
“Bitcoin is an integral part of Dope,” said Open Road’s chief marketing officer Jason Cassidy. “We could not be more excited to bring this unique new opportunity to moviegoers,” he added.
The studio is teaming up with MovieTickets.com and payment platform GoGoin to process the Bitcoin transactions. Bitcoin tickets will be priced at 3% lower than credit card fees.
Steve Beauregard, founder and CEO at GoCoin explained that his firm is “targeting the entertainment verticals with specific payment solutions that remove friction for both the merchant and consumer.” He continued that his company’s “goal is to create a one-stop payments and loyalty solution for merchants to streamline checkout and expand sales while protecting the consumer’s privacy.”
The ambitious deal, arranged by social media agency Partiqal, will cover more than 900 cinemas out of the 2,000 that will be screening the film from June 19th.
“Dope is fresh, innovative and cutting edge. This partnership reflects all of those qualities of the movie,” said Cassidy.
Despite Bitcoin’s shady reputation, with its links to unregulated online black markets, a growing number of organisations, such as Microsoft and Dell, are beginning to push the cryptocurrency into the mainstream by accepting it as a legitimate payment option.