Rosen and Fellman estimate there are 500 to 1,000 households that fit their criteria in both New York and Los Angeles, and then another 50 to 100 in each of the next 30 largest U.S. cities. Their small team at Red Carpet vets potential customers by assessing their credit and interviewing two references.
The pair say they have almost 100 customers, and they’ve made inroads in places that surprised them, like West Virginia and North Carolina. The company is backed by Los Angeles-based OCV Management LLC.
Their most popular movie today is “Ford v Ferrari,” starring Christian Bale and Matt Damon. Red Carpet won’t be able to screen the new “Star Wars” movie that opens Dec. 20 because it doesn’t have a deal with Walt Disney Co. No movie will be priced below $500, and customers get to see a picture twice in a 36-hour period, according to the company website.
So far the only gripe is that the service can’t be used on yachts or in private planes -- for now the company only has domestic rights.
However, Rosen and Fellman are happy to install the technology in summer homes in the Hamptons or ski chalets in Aspen. If the idea catches on, they’ll also launch internationally, to answer calls from potential customers in Europe and the Middle East.
This article was provided by Bloomberg News.