The deal is a temporary promotion as opposed to a permanent price change, but MoviePass has not said how long the offer will be valid. However, it is open to both new and existing subscribers – the latter would save 25 percent on their current subscription when they switch to the annual plan.
This is not the first time that MoviePass has lowered its prices. 19659002] When the company
Starting in October, MoviePass
The service is now majority owned by data company Helios and Matheson Analytics Inc. (HMNY) after
This influx of capital has enabled MoviePass to continue subsidizing the cost of this subscription in favor of passport holders. obviously not profitable at this point. It's going in the red as it focuses on growing subscribers.
MoviePass finally hopes to convince theater owners to increase their customer base so that profits can be saved, as CEO Mitch Lowe reports in
In the meantime, MoviePass is a ridiculously cheap deal for moviegoers. It now works at 91 percent of theaters in the US, though not all are satisfied with the service.
AMC threatened the start-up with legal action in August, and
Others, such as Regal and Cinemark, are taking a wait-and-see approach,
"HMNY remains the biggest backer of MoviePass as it outperforms any other cinema service and bothers the movie industry," said Ted Farnsworth, Chairman and CEO of HMNY, in a statement on today's new, lower pricing. "We look forward to it 'Helping MoviePass expand its reach and modernize the film industry.'
The annual subscription is now available
SOURCES: TECHCRUNCH.COM GSMARENA.COM MACRUMORS.COM
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