MoviePass brings back unlimited movies for $9.95 per month
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MoviePass is bringing back its one movie per day business model less than a week after the company announced plans to limit new customers to just four movies per month.
“What are you waiting for? Unlimited movies in theaters for $9.95 a month is BACK. Any theater. Any movie. Any day. moviepass.com,” the company announced on its Facebook Page Wednesday.
MoviePass regularly changes its promotions and rates.
The service’s movie-a-day deal is popular among moviegoers, many of whom were seeing more movies at theaters than they normally would have. Without MoviePass, going to the movies was worth it only a few times a year for many people. Ticket prices keep rising, and moviegoers have plenty of cheaper alternatives, including Netflix.
But the service also has struck a nerve with the movie industry. Adam Aron, CEO of the giant theater chain AMC, has called MoviePass’ price “unsustainable.” AMC initially threatened legal action, but seems to have backed off.
MoviePass wants to work out ticket discounts and revenue-sharing deals with theaters on the premise that it’s driving more people to theaters. The company is also eyeing a share of concession sales, saying moviegoers are more willing to buy popcorn and soda when scoring a “free” movie. But theaters have balked at offering MoviePass anything.
MoviePass’ parent company, Helios and Matheson Analytics, has warned in a financial report that MoviePass’ future is in “substantial doubt” because it “has incurred losses since its inception and has a present need for additional funding.”
MoviePass now has more than 2 million subscribers, up from 20,000 when MoviePass slashed prices to $10 a month in August.
The Chicago Sun-Times contributed to this report.