Launched in 2007 as a co-venture with Cineplex, the SCENE program is the first – and only – movie loyalty rewards program in the Canadian market. The Scotiabank SCENE debit and VISA cards allow consumers to earn points on everyday purchases, redeemable for free movies, movie snacks and more. Today, with over 1.5 million SCENE debit and VISA cardholders, the program has delivered significant customer and account growth for Scotiabank, and has successfully attracted younger consumers (ages 18 to 34) to the bank.
Younger customers are integral to the bank's future growth, because product penetration increases dramatically as consumer life stages evolve. Given their younger age, these new customers have fewer ties to major financial institutions, and thus switching behaviour is higher among this demo.
While the co-branded SCENE program has high brand awareness in the Canadian market, it is largely attributed to Cineplex – most notably the free and easy-to-attain "black card", which has no annual fee, no qualification requirements, no ties to a bank, and can be sent through the mail. Historically, this has resulted in comparatively low awareness for Scotiabank's affiliation, the product value propositions of the SCENE debit and VISA cards – and, due to a dismal ROI, Scotiabank seriously contemplated whether its significant investment of time, money and resources in this program was worth it.