Lionsgate, the Canadian-American entertainment company, announced on October 6th that it will now be accepting bitcoin. The initiative is said to have been spearheaded by Home Entertainment COO, Akin Ceylan, and Motion Picture Group Executive Vice President of Strategic Planning & Operations, Jen Hollingsworth, as well as motion picture executive Kyle Benn.
For now bitcoin acceptance is limited to payment for Lionsgate DVD and Blu-ray discs at the company’s online store.
Lionsgate saw that regardless of what payment method was being used, money spent on content consumption is on the rise. Lionsgate’s decision to add yet another payment method to their list capitalizes on this trend, giving customers more choices when it comes to paying.
“Whether they pay in dollars, francs or bitcoins, people are spending more money to watch content across more distribution platforms than ever before, and our goal is to offer them greater choice in what they watch, where they watch it, how they watch it and how they pay for it,” said Lionsgate Vice Chairman Michael Burns. “Our acceptance of bitcoins at our online Company shop reflects our commitment to offer greater choice, convenience and accessibility to our next generation consumers.”
GoCoin is just as enthusiastic as Lionsgate about this partnership, as both companies share similar visions when it comes to giving consumers the power of choice. Due to GoCoin’s merger with Ziftr, we could also see Lionsgate implementing a blockchain-based rewards program, further enticing the use of digital currency.
“… we’re delighted to partner with a company that shares our vision of a currency ecosystem that offers consumers the power of choice,” said GoCoin Founder and Chief Executive Officer Steve Beauregard. “The Lionsgate rollout couldn’t come at a better time, as GoCoin’s merger with Ziftr offers an integrated digital coupon loyalty platform to incentivize consumer use of digital currency.”
To celebrate the announcement, Lionsgate will be holding a special offer that runs until October 31, 2015 where select movies and TV shows purchased with bitcoin will receive a 25% discount.