Lions Gate Films To Accept Bitcoin - Essay Example

Lions Gate Films signs a deal with GoCoin to accept Bitcoin

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The Canadian- American entertainment film production studio and a division of Lions gate Entertainment, Lions Gate Films that has distributed various commercially successful film series, including The Hunger Games, The Divergent Series and The Expendables, has entered into a partnership with the digital currency payments processor GoCoin.

The announcement was first made by the chief executive officer of GoCoin, Steve Baeuregard at Inside Bitcoins New York, the deal was confirmed by the senior vice president of Lions Gate, Peter Wilkes.

Wilkes mentioned that Lions Gate is working to integrate digital currency payments into the online store of the company.

He stated, “We continue to explore innovative new technologies for connecting with next generation consumers, and we’re intrigued by the possibilities offered by Bitcoins in our media space.”

Beauregard elaborated on the announcement in conversation with bitcoin blog Follow the Coin, added that GoCoin is seeking to appeal to other film studios as a part of its customer acquisition strategy.

He explained about the potential impact of the partnership on the bitcoin ecosystem, “It’s just gonna be another great place where people go, purchase content … it’s the first major film studio, being in Los Angeles, obviously, that is an advantage for us.

But we are going after the big studios to help onboard them and make more places where people can spend their Bitcoin.”

GoCoin, the digital currency payments processor which was found in the year 2013 and facilitates transactions in Bitcoin, Litecoin, Dogecoin and Tether.

They give the customers the convenience of choice, and in turn, the customers can choose to keep the coins or instantly exchange them to their preferred currency.

GoCoin nullifies the high volatility risk in cryptocurrencies, eliminates cost frauds associated with credit cards, and there are no chargebacks. The company charges only 1 per cent in transaction fee.

Lions Gate Films which was formerly known as Cineplex Film Properties was renamed on 12th of January, 1998. Lions Gate Entertainment Corporation purchased the Vancouver- based North Shore Studios, which became Lions Gate Studios.

The first major box office success if Lions Gate Films was American Psycho in 2000 starring Cristian Bale. It occasionally co- produces films with major studios like Paramount Pictures, Miramax Films, it was also a silent partner in 20th Century Fox’s 2004 sci- fi film The Day After Tomorrow.

On 2015, Lions Gate Films will distribute an epic romance fantasy film The Age of Adaline starring Blake Lively and Harrison Ford.