I think this idea has a lot of strong elements to it. However, the issue that sticks out the most to me is the pricing model. $.99 per viewing? That would make making a profit incredibly difficult. It just isn't realistic.
Instead, I think a price closer to renting a movie on demand would work better with a bargain price for each view after that. Perhaps $2.99 or $3.99 for the first view and $.99 for each view after that. And then maybe when the viewer gets up to a certain view count, each view after that is free. This way, you can gain a profit with less viewers while also instilling loyalty in repeat viewers who are most likely to spread the word.
Instead, I think a price closer to renting a movie on demand would work better with a bargain price for each view after that. Perhaps $2.99 or $3.99 for the first view and $.99 for each view after that. And then maybe when the viewer gets up to a certain view count, each view after that is free. This way, you can gain a profit with less viewers while also instilling loyalty in repeat viewers who are most likely to spread the word.