This is a seat-filler organization (like Theatermania Gold, Audience Extras, and Play-by-Play. It has just expanded its business to the NYC area and is selling half-price memberships for $40-45 through livingsocial, which is much less than other such services.
But buyer beware - you get what you pay for (or maybe even less). At the moment, there are only THREE events total in the NYC area. I won't cancel for now, but I think I'll end up regretting my purchase.