The Journey of Stacy Spikes and MoviePass: Disruption, Setbacks, and Resilience

Excerpt: From our Founders Talk Podcast with Stacy Spikes

Stacy Spikes is a name that stands out in the movie industry, most notably for his work with MoviePass, a subscription service that changed how people think about going to the movies. In a recent interview with Bookum, Spikes shared his journey, offering insights into the challenges and triumphs that have shaped his career. Here’s a closer look at his entrepreneurial story, from the early days of MoviePass to reclaiming his company after a dramatic

(Photo by: Felipe Bustillo)

Changing an Industry
Spikes noticed that the cinema industry was behind in adopting the subscription model that had already transformed music and TV streaming. Inspired by platforms like Netflix and Spotify, he envisioned a similar approach for movies. His idea was to offer a service where, for a flat fee, consumers could watch multiple movies a month, a bold shift from the traditional pay-per-view model used by cinemas.

Turning this idea into reality was no small task. Spikes had to overcome challenges with theaters and studios, all while focusing on making the moviegoing experience as seamless as possible for consumers. This vision led to MoviePass’s explosive growth, with the service gaining over 100,000 subscribers in just 48 hours after lowering its price to $9.95 per month.

The Challenges of Founding
Despite the rapid growth, Spikes’ journey was far from smooth. The immense pressure to grow the company quickly, along with strategic disagreements, eventually led to Spikes being ousted from MoviePass, the very company he founded. This period was tough, but it didn’t stop him. Instead, he put his energy into starting a new venture, focusing on AI, art, and facial recognition.

(Photo by Linus Mimietz on Unsplash)

Returning to MoviePass
While working on his new project, Spikes discovered that MoviePass was available for purchase after failing to sell at auction during the pandemic. Despite the uncertainty in the movie industry due to COVID-19, Spikes remained confident that people would return to theaters once the pandemic subsided. His belief was based on historical data, such as the resurgence of movie theaters after the 1918 Spanish flu. Armed with this conviction, Spikes successfully bid to reclaim MoviePass, determined to lead it towards a successful future.

Black Founders: A New Venture
In addition to his work with MoviePass, Spikes has authored a new book titled Black Founders. This book highlights the experiences of Black entrepreneurs, offering insights into the challenges they face and the strategies they use to succeed. Drawing from his own journey and those of other Black founders, Spikes provides practical advice on everything from raising capital to handling the pressures of leadership.

Black Founders is more than just a business book; it’s a call to action for aspiring entrepreneurs to embrace their identity and use it as a strength in the business world. Spikes addresses the systemic barriers that have historically marginalized Black entrepreneurs and offers a roadmap for overcoming these obstacles. His book is a valuable resource for anyone looking to understand the nuances of entrepreneurship from a perspective that is often underrepresented in mainstream business literature.

Stacy Spikes’ story is a testament to the resilience and determination required to face the highs and lows of entrepreneurship. His journey with MoviePass shows the importance of innovation, the reality of setbacks, and the power of persistence. Through his new book Black Founders, Spikes extends his influence beyond the movie industry, offering inspiration and guidance to the next generation of Black entrepreneurs. As he continues to lead MoviePass into its next chapter and advocate for diverse voices in business, his experience offers valuable lessons for entrepreneurs and innovators alike.