|A subscription reselling start-up is trying to become the Netflix of movie theatres by offering virtually unlimited movies for less than $10 a month. MoviePass offerings have drawn strong resentment from the world’s largest theatre chain and the exhibition industry.|
The 6-year-old New York based MoviePass allows people to see one movie per day by using its app, said on Tuesday that it has lowered its monthly fee to $9.95. This is similar to what some online streaming services are offering.
MoviePass has around 20,000 subscribers as of December. And was acquired by a New York data technology company Helios and Matheson Analytics Inc. for an undisclosed sum. It’s CEO Mitch Lowe, a former Netflix and Redbox executive said in a statement that the price change “completely disrupts the movie industry in the same way that Netflix and Redbox have done in years past”.
What does this mean? Well, it literally means that people in major cities such as Los Angeles and New York that means a MoviePass all-you-can-watch one-month subscription would cost lesser than a single full-price ticket.
It does sound good to moviegoers but AMC Theatres on Tuesday criticised the service sharply worded news release with bold type proclaiming, “Not welcome here”. AMC called MoviePass a “small fringe player” whose plan was “not in the best interest of moviegoers, movie theatres and movie studios”. AMC said it will try to block the services from its theatres.