Movie lovers can rejoice as pretty soon you’ll able to see a movie every day for the low price of $9.95 a month. Subscription service MoviePass, announced they are dropping the price of their monthly service. MoviePass is still relatively unknown to the general public, but the service lets users pay a monthly price that allow them to see a single movie each day. “Users check into a location-based app, pick the movie they’re seeing, and pay with an official MoviePass debit card. Over the years there have been changes in the pricing model depending on where you live and how many movies you see, ranging anywhere between $15 a month to almost $50 a month.”
Currently operating at a loss, MoviePass recently sold a majority stake to Helios and Matheson Analytics Inc., a publicly traded data firm. Ted Farnsworth, chief executive officer at Helios and Matheson, said to Bloomberg that the goal is to reel in a large number of customers in order to collect data on viewing behaviors in order to target advertisements and other marketing materials to subscribers, “It’s no different than Facebook or Google. The more we understand our fans, the more we can target them.”
MoviePass is headed by Mitch Lowe, a Netflix co-founder and former Redbox president. He stated, “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. We’re making it more affordable for people.”
The service is available in over 91% of all theaters in the U.S., including AMC, Regal and Cinemark theaters along with independent theaters. MoviePass does not publicly disclose its subscriber numbers.