Movie theaters across the country are struggling to put people in seats while people complain that going out to see the latest blockbuster has simply become too expensive. MoviePass intends to fix both of those problems!
See a movie in the theater every day for the price of a Netflix subscription
The company announced yesterday that it is dropping its monthly subscription fee to $9.95. MoviePass subscribers could technically see one movie in theaters every day of the month for around the price of a Netflix subscription, according to The Verge.com.
The subscription will allow customers to see one 2D movie a day at any theatre that accepts debit cards. The only restriction is that 3D and Imax films are not included in the deal.
MoviePass subscription lowered from $50 to $10
The subscription used to be $50 a month in major cities. MoviePass’ CEO and former Netflix executive, Mitch Lowe, has now made the price of MoviePass cheaper than Netflix.
The subscription-based company also announced that it sold a majority stake to Helios and Matheson Analytics Inc. While MoviePass could lose a lot of money by lowering subscriptions and paying for people’s tickets, the new deal will help to bring in more cash for the company, according to Bloomberg.
Get the deal while you can
One of the biggest theater chains, AMC, is consulting with attorneys to see if or how it can prevent the subscription program offered by MoviePass from being used at its locations, according to Variety.
In the interview with Variety, Lowe expressed how AMC’s stance could hurt his business. AMC is questioning whether MoviePass’ new subscription fees are sustainable in the long run, so hurry and get the deal while its available!