MoviePass recently announced that they are lowering their monthly subscription rate from around $50 all the way down to $10...well, $9.95 anyway. This will allow subscribers to see one movie every 24 hours, it does not work with IMAX or 3D movies, and you can't see the same movie more than once. To use this, you have to download the MoviePass app, which is available for Android and iPhones, and after you enter your information into the app, a MoviePass "debit card" will be sent to you within a week of subscribing. How this works is first, you enter in your zip code and the app will show you the theaters in your area that allow MoviePass, you enter in the title of the movie and then it will show you a list of times that are available for said movie. After they load up the information and the ticket amount onto your MoviePass debit card, you just hand it over to the ticket booth when you show up.
Right now, MoviePass is accepted at 91% of the theaters in the United States, which is roughly around 4,000 theaters, and according to Statista the average price of ticket prices was $8.95. Of course, larger cities charge more per ticket. New York City, for example, charges an average of $15. So basically, if you sign up and see at least two movies a month, you're already saving money. If you watch one movie every day for one year, that's 365 movies for only $120.
The CEO of MoviePass, Mitch Lowe, admits that they will be losing money in the short term, but says that theaters are suffering from poor attendances and thinks that if he can help get people into theater seats, it will help the movie theaters, and Hollywood, in the long term. Lowe used to be an executive over at Netflix, and seems to be following their formula. Considering that MoviePass' monthly average to their website had been 10,000 hits, and that they got over 500,000 in the first six hours after they announced the price reduction, Lowe might be onto something.
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