MoviePass is now less expensive than Netflix.
Have you stopped going to the movies because it’s just too expensive? Well, for less than the price of one ticket in a major city, you can now see a new movie every day of the week each month. MoviePass, a subscription company started by ex-Netflix executive Mitch Lowe, has lowered its price to only $10 a month. Yes, that's right: Less than what you pay for a Netflix subscription.
The company announced today that they would be lowering their price to $10 a month—down from a tiered service that went as high as $50 in some locations—and would allow subscribers to see one 2D movie in theaters per day, as long as the theater accepts debit card payments. Subscribers will still have to pay ticket prices for IMAX and 3D Movies. MoviePass is accepted in over 4,000 theaters across the United States.
Subscription services like ClassPass are customer favorites since they provide a service at a lower cost than a single studio can provide, but many services only pay the studio or location a discounted rate for the sales they drive in. So seeing MoviePass being offered at such a low price might have you worried about the well-being of your favorite local or art house movie theater. Thankfully, Bloomberg reports that MoviePass will pay the full price of each ticket to the theater so theaters will not lose money from being part of the service—this makes it less likely that a movie theater will opt-out of the service.
The price-cut for the service is possible as MoviePass sold the majority stake of its company to Helios and Matheson, which views the service as a rich opportunity to collect data on customer’s viewing behaviors.