Update November 17: MoviePass has lowered their annual price to $89.95 (with a $6.55 processing fee) for new members, which works out to about $8 per month.
Show us someone who says they enjoy paying $17.50 (or whatever it is these days) to see a flick at the theater and we’ll show you someone who’s got a vested interest in the movie biz.
Movies have been, and are, too expensive to see in theaters — but it appears they won’t continue to be.
In a move that’s set to make Netflix and other home streaming services feel a little less chill, MoviePass has announced a no-contract subscription plan that will allow subscribers to see one movie per day in a theater without blackouts for just $9.95 per month.
The plan, which doesn’t include 3D or IMAX screenings, should work at 91 percent of the theaters in the U.S. as MoviePass is compatible at Cinemark, AMC, Regal and many independent chains.
Crazy as the deal sounds, MoviePass — which just raised a ton of cash by selling a majority stake to data firm Helios and Matheson Analytics Inc. — is banking on the idea that it’s the price of a ticket, not the hassle of heading to the theater, that’s keeping potential customers at home.
“After years of studying and analysis we found that people want to go to the movies more often, but the pricing keeps going up, and that prevents them from going more,” company CEO Mitch Lowe told Variety. “We’re making it more affordable for people.”
The site is having some technical difficulties as of this writing, but here’s where to sign up.
This article was featured in the InsideHook newsletter. Sign up now.
