Monday, March 26, 2018

Monday's Headlines - Moviepass News

Like movies? Well, did you hear this news as Movie theater subscription service Moviepass has temporarily lowered its price to $6.95 a month if customers purchase a year long subscription.

Moviepass reimburses subscribers the cost of one full-priced movie ticket every day. According to Variety, Moviepass's business model has put them at odds with theater chains such as AMC, while also reportedly forcing the company to offer at a significant loss.

However, Moviepass plans to achieve profitability by leveraging data gathered from its subscribers by selling it to theater chains.

“Our vision has always been to make the movie going experience easy and affordable for anyone, anywhere,” said MoviePass CEO Mitch Lowe in a statement (via Variety). “With the current growth and support that we’ve seen within the last several months, our studio and exhibitor revenues and other marketing partnerships have motivated us to lower the price once again, offering movie lovers greater access to MoviePass.”