Novice publishers Take Media are planning to distribute 30,000 copies of Take 1 magazine throughout central London – a third in cinemas, a third in West End bars, restaurants and shops and the remainder outside tube stations.
The A5-format publications will include cinema reviews, news and interviews as well as listings.
Take Media is planning high production and content values and aims to publish every Friday, although for the first two months it may soft launch as a fortnightly. The target audience will be professionals aged 25 to 35.
Roughly half the ad space will come from film ads, with three of the capital's top six distributors signed up for the launch issue.
The publishers are aiming to get the other half from London niche lifestyle brands.
Publisher Elizabeth Hackford said she came up with the idea because of frustration at the lack of a comparable product.
"People see The Guardian's Guide, Time Out and soon-to-be-defunct MetroLife as competitors, but we don't think we'll compete head-on with them," said Hackford.
Akey feature will be grouping cinema listings according to Underground zones to make them more user-friendly.
Sannah Rogers ,press executive at ZenithOptimedia, said that the free element was going to be attractive but the agency was waiting to gauge the performance of the first issue before taking out ads.
"Their best selling point is having the zoned listings. The closest competitor they have is something like Time Out, but they're going to be used as a completely new tool," she said.