MoviePass aims to be the Netflix of brick-and-mortar movie theaters. And if anything is an indication of that, the subscription service recently dropped its monthly fee to a shockingly low price.
The service allows subscribers to go to one movie showing per day at any U.S. theater. And on Tuesday, MoviePass dropped its monthly subscription fee to $9.95 a month. Yes, you read that right. That means you could technically go to the movies once a day, every day, for about the price of a single ticket. This counteracts the biggest problem with theaters, according to MoviePass CEO Mitch Lowe: high ticket prices.
It works because MoviePass actually pays the theaters the full price of each ticket used by subscribers, Bloombergreported. But it’s pretty incredible because of how low the subscription price is. Previously, the service ran on a tiered system — starting at $15 but running up to $50 a month for unlimited movies in major cities. $10 a month for unlimited movies is a bold — and possibly industry-disruptive — move.
Not that everyone is happy about the new subscription price. AMC threatened legal action, and said that MoviePass’s business model “isn’t sustainable.” The company doesn’t agree, recently telling the Wall Street Journal that it will use the lower price to amass subscribers and convince the film industry to “work with it.” It’s not all doom and gloom for the theater industry, however. Theater attendance has been declining for years now, and MoviePass could help drive more people to go to the movies.
If you’re interested in signing up, you can do so on the MoviePass website, or via the MoviePass iOS app. As of Tuesday, it costs $9.95 a month and includes one movie showing per day at most U.S. theaters that accept debit cards. It doesn’t apply to IMAX and 3D screenings, however.