MoviePass will begin surge pricing next month

22 June, 2018, 02:39 | Author: Dominic Spencer
  • “Moviepass”

The MoviePass announcement comes after the AMC theater chain launched a new program on Wednesday that lets you watch three movies a week for $20 a month.

"MoviePass's relationship with AMC - the U.S.'s largest theater chain - is strained at best, hostile at worst", according to Quartz. That's more expensive than the $9.95 monthly fee for MoviePass, but AMC's plan gives access to premium format screenings like IMAX and 3-D. Subscribers who have signed up for annual plans will not be subject to high demand pricing, and MoviePass is introducing two new features in August.

But subscription services are especially popular among Millennials, who have proven hard for theaters to attract.

"Heard AMC Theaters jumped on board the movie subscription train".

As MoviePass shares have continued to plummet, questions have been raised about MoviePass' long-term viability.

AMC Theatres CEO Adam Aron emphasized that AMC's program was set at "a sustainable price". As the MoviePass subscriber base increases rapidly, and as we increase our investments in movies through MoviePass Ventures and MoviePass Films, and make other acquisitions, our monthly cash deficit will continue to increase in the coming months. The subscription service's parent company Helios and Matheson Analytics announced today that MoviePass' monthly losses have soared to $40 million in May. MoviePass pays for full-priced tickets and sells them at a discounted rate in order to capitalize on user data. This isn't the first time the company has intentionally obfuscated their dubious rules, either-even after they rolled back their four-movies-a-month restrictions in May, the company maintained that it "reserves the right to change from time to time the number of eligible movies a member can see per month". It tweeted that AMC's new service would be "twice the price for 1/4 the theater network and 60% fewer movies" and claimed that AMC is just in it for "more profit". The rule differs from MoviePass, which only allows customers to see one movie per day.



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