×
You will be redirected back to your article in seconds

MoviePass Cuts Prices, Offers $6.95 a Month Plan for Unlimited Movies

UPDATED: MoviePass is offering a limited-time subscription that will allow users to pay $6.95 a month to watch a movie a day for a year. The service typically costs $9.95 a month, but the new deal comes with a catch. Users have to commit to a 12-month subscription.

“We did a soft launch yesterday,” MoviePass CEO Mitch Lowe told Variety. “We’re discovering there’s much more interest and demand than we ever imagined. We keep hearing from customers that they want an annual plan or they wanted some way to give MoviePass as a gift.”

MoviePass is trying to become the Netflix of cinema-going, but right now it seems to be more focused on building a customer base than turning a profit. The company pays theaters the full price for a ticket, so it is in essence subsidizing its users’ movie-going and losing money each time they check out a film. The average movie ticket cost $8.60 through the first three quarters of 2017. In some major cities, such as Los Angeles and New York, it sets customers back more than $10. MoviePass said its one-year subscription plan will be available only for a limited time.

Some theater owners have been unhappy with the service. AMC, the country’s largest chain, threatened legal action and predicted the company would fail. There is anxiety that customers will get accustomed to paying a discounted rate for tickets, which will depress prices, like bargain movie rental services such as Redbox and Netflix made Blockbuster and its hefty late fees obsolete.

Last August, MoviePass sold to Helios and Matheson Analytics, a publicly traded data firm. As part of the deal, it slashed its monthly pricing from as much as $50 a month to less than $10. In the process, its subscriber rolls swelled. When it sold, the company has roughly 20,000 subscribers. Now it has north of 600,000. Recently, MoviePass announced it had raised $100 million to fund operations. Even though MoviePass is operating in the red, the company believes that it will be able to monetize the data it collects on its customers or that it will drive so much foot traffic to theaters that they will give them some kind of discount.

“There are a lot of ways to make a buck,” Lowe said. “There’s advertising revenue. There’s marketing revenue. We’ll start testing these things with potential partners in the coming months. We’ve proven that we can build a big base of loyal subscribers.”

More Film

  • Nona

    Film Review: 'Nona'

    Twenty years and 12 features down the line, it’s still hard to peg the directorial sensibility of Michael Polish, with or without the presence of brother Mark as frequent co-writer and actor. His output has been all over the place, from early Lynchian quirkfests to the very middle-of-the-road inspirational dramedy “The Astronaut Farmer,” not to [...]

  • Pawel Pawlikowski "Cold War"

    Pawel Pawlikowski's 'Cold War' Wins for Best Film, Director at European Film Awards

    “Cold War,” Pawel Pawlikowski’s black-and-white romance set in the 1950s, scooped the prizes for best film, director and screenplay at the 31st edition of the European Film Awards on Saturday. “Cold War” star Joanna Kulig also won the award for best actress. Marcello Fonte, the star of Matteo Garrone’s “Dogman,” won for best actor. Armando Iannucci’s [...]

  • The Favourite Bohemian Rapsody Star is

    The Best Movie Scenes of 2018

    When we think back on a movie that transported us, we often focus on a great scene — or maybe the greatest scene — in it. It’s natural. Those scenes are more than just defining. They can be the moment that lifts a movie into the stratosphere, that takes it to the higher reaches of [...]

  • Spider-Man: Into the Spider-Verse

    Box Office: 'Spider-Man: Into the Spider-Verse' Soars Toward $35-40 Million Debut

    “Spider-Man: Into the Spider-Verse” is swinging into theaters on a high note. Sony-Marvel’s latest output is launching to $42 million from 3,813 North American locations in its debut, though other more conservative estimates place that number at $35.5 million. The animated superhero story picked up $12.6 million on Friday, easily leading the pack for the weekend. [...]

  • Ventana Sur : Cinema226 Closes Four

    Cinema226 Announces Four Intl. Co-Productions, Hints at More (EXCLUSIVE)

    Mexico’s Cinema226, run by Marco Antonio Salgado and Sam Guillén, is driving into a raft of Mexico, Argentina and Spain co-productions, playing off the current vibrancy of Mexican film production funding and distribution outlets. Among the projects are titles which have been standouts at Ventana Sur’s Blood Window, the next film by Mexico-based Argentine filmmaker [...]

  • Ventana Sur Debates Gender Parity in

    Ventana Sur Debates Gender’s 50/50 in 2020 for Argentina Film Industry

    BUENOS AIRES — Despite recent gains, namely the equality pledge towards 50/50-2020 signed at the Mar del Plata Film Festival on Nov. 12, producer Magalí Nieva, pointed out that no representative from INCAA was present following the apparent resignation of its vice-president Fernando Juan Lima. “We are left without an interlocutor to discuss gender policies [...]

  • Ventana Sur Rocks with Sales, Mass

    Ventana Sur Rocks with Sales, Mass Attendance, Structural Growth

    BUENOS AIRES — Celebrating its 10th anniversary with a huge hike in attendance to over 4,000 accredited delegates, the 2018 Ventana Sur will go down in history on multiple counts: Sales and pick-ups on movies which combined social comment and entertainment value, increasingly the new foreign-language movie standard; new sections, led by a Proyecta co-production [...]

More From Our Brands

Access exclusive content