Source– What is the sweet spot for getting people to join a movie theater ticket subscription service? For six years, MoviePass has struggled to answer that question and now, under former Netflix exec Mitch Lowe, it’s introducing a radical plan: Selling customers data and charging $10 a month for all the silver screen action you can fit into your life.
Today, Lowe announced that MoviePass will allow subscribers to see one showing a day of a film at any theater that accepts debit card payment for just $9.95 a month. The only restrictions that have been announced so far are that 3D and Imax films are off limits. I’d tell you if any terms of service have changed on the MoviePass website but it’s apparently getting crushed with traffic at the moment and won’t load.
MoviePass has been through several pricing and accessibility models over the years. It’s typically offered a list of theater partners, restrictions on new releases, limited advance purchasing, and prices ranging from $30 to $50 per month. It pays theaters full price for tickets and has sought to monetize by betting that people wouldn’t use the subscription enough each month to warrant the price. In 2016, Lowe was brought in as CEO based on his history as a co-founder of Netflix and his stewardship of Redbox kiosk rentals.
First off, I consider myself a pretty big movie guy and I like to try to watch a new movie at night before I go to bed. It’s one of the most incredible feelings to find a movie you either have been wanting to watch or a random movie you’ve never heard of and just fucking marinate for a solid hour and a half/ two hours. I used to be a reader, kinda, but the whole point of reading is being able to picture the story in your head as you follow the book. MOVIES DO THAT FOR YOU. Why waste brain power trying to picture what the characters look like when you can literally just watch them and see what they are supposed to look like. And finding a movie that keeps you guessing or just keeps you enthralled for the entire time is an amazing experience.
Anyways… back to the subject at hand, this MoviePass company just got a new CEO in the form of former Netflix executive Mitch Lowe. Ingeniously he came up with this new, revolutionary idea to charge $10 a month for a service. I dont know where his inspiratoin came from but this thing just might pan out for him! ON THE OTHER HAND, the movie theater business is a dying business. Charging $10 a month for an unlimited movie pass (minus 3D and IMAX movies…kinda bullshit) is an interesting move. I assume that with the rise of streaming services the theater business is on a slight decline and this is a good effort to gain some traction. Pretty sure a movie ticket was like 12 bucks last time I went, which I seriously cannot remember when that was, but they are telling me I can get a whole month of free movies for just $10?! Less than the price of a single ticket?! Only one problem… I can’t remember the last time I went to the movie. Either I just don’t have the time to go or I don’t even think about going but the fact remains I don’t go. Maybe I’m a single case but i really don’t think so. Ill wait a couple weeks for a movie to come out or ill find it on Kodi (if you dont know Kodi your missing out). So kudos to this guy for leaving (or getting fired from, not sure what happened) from Netflix and moving to the movie theater market. A market that is on its last leg and is desperate, desperate enough to try the pricing model that their future competitor is using. Soon Netlfix and Hulu will be able to stream brand new movies and put an end to the movie theater industry as a whole so make your moves and attempt to make some money while you can cause the clock is ticking on your business. -( . )