Last month, we announced that MoviePass was dropping its price allowing subscribers to see unlimited movies for $9.95 a month. Some theaters aren’t so happy about it like AMC but nonetheless, subscriptions have surged from 20,000 to 400,000 in a month since the announcement.
In an interview with the New York Post, MoviePass’ CEO Mitch Lowe said he “thought it would have taken us more than six to eight months to get as many subscribers as we did in the first two days.”
Cutting the low, no-commitment membership fee to $9.95 from $40 to $50 will allow more moviegoers to experience more films from ones they are dying to see to indies or films they’re not sure they’ll like.
In order to keep up with the demand, MoviePass tripled its payroll and is updating the app that’s used in conjunction with the card you receive as a subscriber. Wondering about their price model? MoviePass pays theaters the full price of the ticket, so theaters don’t lose out.
