MoviePass Plans To Go Nationwide In Its Newest Reboot
By Movieguide® Contributor
MoviePass is set to go nationwide for the Memorial Day Weekend.
MoviePass has different subscription plans that range from $10 to $40 a month. The company also announced that viewers are able to use the subscription across 4,000 locations nationwide.
Stacey Spikes told the Hollywood Reporter, “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.”
MoviePass’s parent company filed for bankruptcy in 2020. In 2020, MoviePass was deemed as the “Netflix for movie buyers” and had promised that users could have an all-access pass to watch as many movies as they wanted for only 450 a month.
However, in 2016 Netflix co-founder Mitch Lowe and Ted Farnsworth from Helios and Matheson Analytics acquired MoviePass which started out charging customers $9.95 a month. This caused the subscriptions to skyrocket to 2 million.
Making the move to Helios and Matheson Analytics made MoviePass hard to beat for consumers. Lowe stated, “it completely disrupts the movie industry in the same way that Netflix and Redbox have done in years past.”
MoviePass jumped from 20,000 subscribers when it was $50 a month to 150,000 subscribers at the new monthly rate.
Despite the positives for MoviePass, theatres were wary of the company because it could devalue movie tickets.
AMC Theatres released a statement in 2017 that read, “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.”
Therefore, making the headline of, “Not Welcome Here.”
However, in April of 2018, AMC Theatres had changed its mind. The company thought that if MoviePass wanted to purchase movie tickets at full price that AMC Theatre wouldn’t stand in its way.
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