MoviePass — whose subscription provider has already made going to the flicks ridiculously cheap — simply slashed its prices once more.
The all-you-can-watch cinema buffet introduced Friday that for a restricted time it’s reducing its per 30 days price to $6.95 from $nine.95 for brand new subscribers.
MoviePass already made theater chains like AMC apoplectic when it modified its style from a $50-a-month area of interest provider to a $nine.95-a-month juggernaut that now has more than 2 million subscribers and expects to cross three million by means of April.
MoviePass — which will pay theaters the entire quantity for every price tag its subscribers acquire — now makes up an important share of theaters’ field workplace revenues.
MoviePass mentioned its subscribers made up 17 % of the outlet weekend income for Paramount’s “Annihilation,” and it has already paid for over 1 million tickets to Marvel’s “Black Panther” over the last month.
“We’ve priced our product where it is so we can reenergize people into going to the movies,” MoviePass CEO Mitch Lowe informed The Post. “The more we bring the price point down, the more we are acquiring customers who have been abandoning the movie theater and are just watching Netflix.”
To get admission to the brand new worth — some distance inexpensive than a regular, $10.99-a-month Netflix subscription — you’ll want to pay for a yr’s club up entrance and don’t find a way to head monthly.
Ted Farnsworth, CEO of Helios & Matheson Analytics, which owns 81 % of MoviePass, mentioned the corporate goals to additional distance itself from any pageant.
He added that the corporate’s studio and exhibitor revenues, in addition to different advertising partnerships, have motivated them to decrease their prices.