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Imagine seeing all the movies as you want in cinemas for the same price as your monthly Netflix subscription.
MoviePass is offering US theatergoers $9.95 monthly service that gets subscribers into one movie per day—excluding 3D and Imax—at theaters that accept debit cards, which MoviePass says includes 91% of all theaters in the country, such as popular AMC, Regal, and Cinemark locations.
The service questions the value of new movie releases in a world dominated by subscription services like Netflix, Hulu, and Amazon that make movies available online along with all their other programming for one low monthly fee.
To keep theaters happy, MoviePass covers the full cost of each ticket used by subscribers. That means it could take a loss on new users that go several times a month. But cinema operators worry average moviegoers won’t want to pay standard ticket prices when MoviePass members get unlimited showings for $10.
MoviePass argues radical change is coming whether theaters like it or not. Ted Farnsworth, chairman and CEO of Helios and Matheson Analytics, a firm that just took a majority stake in MoviePass says, “The big dinosaurs like AMC, they just have to understand that we’re there to help them. We’re here to bring people into the theater.” —Ashley Rodriguez
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