Sean Parker wants you to spend $50 to stream movies that are still in theaters

Napster founder Sean Parker

Napster founder Sean Parker wants you to spend $50 to stream movies that are still in movie theaters.

Parker, a Facebook investor and billionaire, has founded The Screening Room.

The movie streaming service is currently in talks with Hollywood studios to pitch $50 rental fees for movies that are still being shown in theaters.

The service would use the company’s secure anti-piracy set-top boxes, according to Variety, which broke the story Wednesday evening.

The Screening Room would reportedly charge $150 for the set-top box and $50 per rental. Each movie would be available for 48 hours.

The service could take off because of plummeting DVD sales, which have cut into the profits at major Hollywood studios.

The Screening Room has found serious interest from Universal, Fox, and Sony. Disney, however, has said it is not interested in such a service at this time.

The Screening Room is also attempting to appeal to exhibitors by offering customers two tickets to see the movie they have rented in theaters.

Billionaire Advises Investors to Ride Out COVID-19 Market Volatility

Typically there is a 90-day theatrical window for movies before they move to home-video and streaming platforms.

The Screening Room is also proposing giving theater chains a slice of the revenue, as much as $20 of the fee. Distributors who participate would take 20% of the $50 rental fee, and Screening Room would take 10% of the fee, according to Variety.

This type of plan has failed in the past. In 2011 the Ben Stiller comedy “Tower Heist” was offered as an on-demand option to 500,000 Comcast customers at a price of $59.99 for rental. The offer was largely ignored.

While paying $50 for a movie rental might not seem economical, it could appeal to large families who easily dish out far more money to bring a large group to the theaters.

Written by Franklin Simmons

Franklin Simmons

Franklin Simmons is BusinessPundit's Tech Editor. His life is consumed with a love of augmented reality, mobility, and emerging technology. He extensively covers all areas of technology, including the computing, automotive, and healthcare sectors.