![]() ![]() (Customers, many of which used the service to go to see movies in theaters multiple times a month, were skeptical too. ![]() AMC CEO Adam Aron said of its business model, “We don’t see where those numbers add up.”Īt the time, National Association of Theatre Owners (NATO) chief John Fithian brushed aside the notion that the industry needed a self-labeled savior. 2017, AMC Theatres issued a statement headlined “Not Welcome Here” that noted: “holding out to consumers that first-run movies can be watched in theaters at great quantities for a monthly price of $9.95 isn’t doing moviegoers any favors.” But the world’s largest theater circuit had changed its tune by April 2018, perhaps figuring that if MoviePass wanted to buy tickets at full price it wouldn’t stand in its way. Lowe heralded the move, saying the pricing scheme “completely disrupts the movie industry in the same way that Netflix and Redbox have done in years past.” MoviePass said it hit 150,000 subscribers - up from the 20,000 it had when it cost $50 monthly.ĭespite MoviePass paying full freight for tickets, major theater chains have been wary about the service devaluing the cost for going to the movies. The move to Helios and Matheson Analytics coincided with MoviePass slashing its monthly price. Immediately, the largest circuit, AMC Theatres, tried to blunt any momentum and its then marketing chief said it “was news to us to see” its locations as participants in the test. ![]() In 2011, Spikes was among founders launching MoviePass with a test run in San Francisco, billing the service as “Netflix for movie buyers” and promising all-you-can-watch theater tickets for $50 a month. The move marks the latest gambit for a brand whose parent company filed for bankruptcy in 2020 and which has pivoted business models since it was first started. markets and inked partnerships with chains including B&B Theatres, Cinepolis Luxury Cinemas and Landmark Theatres. In January, the company said it raised funding from a number of financiers led by venture firm Animoca Brands, expanded to nine U.S. “By opening up MoviePass to film lovers nationwide, we are expanding our support of the movie theater industry by helping drive traffic to all theaters during the critical summer season,” stated Spikes. And the company claims that moviegoers can use the app at 4,000 locations. In its latest incarnation, the firm, run by Stacy Spikes, has subscription plans that range from $10 a month (for one to three movies) as well as $40 a month (for 30 movies a month). MoviePass, a rebooted version of the app that once burned through cash promising theatergoers all-you-can-watch features for a single fee, says it’s now going to expand nationwide again during the busy box office Memorial Day frame. ![]()
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