As the theater industry continues to struggle amid declining sales, a new subscription service called MoviePass makes it more affordable to go to the movies than ever before. The offering, which Bloomberg reports is the brainchild of Netflix co-founder Mitch Lowe, promises subscribers of his new startup the opportunity to partake in limitless movie showings for the low price of $9.95 per month. The subscription-based service, whose previous monthly membership rang in at about $30, will allow moviegoers admission to one showing per day, excluding 3D or IMAX, at any theater in the U.S. The news will hopefully prove to be a huge relief for the pockets of frequent moviegoers who can now use those savings to supersize their buckets of popcorn.
Because the price of a night at the movies can easily cost you a small fortune. Box Office Mojo notes that the cost of admission has nearly doubled over the last two decades. Prior the amazing deal MoviePass is offering, it seemed that going to the movies was turning into a thing of the past as the cost continued to inflate rapidly over the years.
With the popularity of subscription streaming services such as Netflix, Hulu and Amazon Prime quickly rising, many have begun to opt out of the movie going experience altogether, and have started seeking the joys of cinematic entertainment right from the comfort of their own home. Although Lowe maintains that ticket pricing is directly to blame for the lack of theater attendance, according to Bloomberg. He says, “People really do want to go more often ... They just don’t like the transaction.”
So, if that proves to be the case, this new deal from MoviePass could stand to benefit both moviegoers and theater owners alike. Let's just keep our fingers crossed that concession stand prices don't spike in the meantime.