PRESS RELEASE
NEW YORK–(BUSINESS WIRE)–MoviePass
, the nation’s premier movie theater subscription service and a majority-owned subsidiary of Helios and Matheson Analytics Inc. (Nasdaq: HMNY), today announced that, for a limited time, it is offering its annual subscription to new subscribers for $6.95/month.
MoviePass has gained momentum in diversifying its revenue streams due to a series of marketing agreements with studios and distributors, as well as partnerships with a number of theater exhibitors. This recent success in forming relationships with studios, exhibitors, and marketing partners has encouraged MoviePass to offer an even more attractive deal to consumers.
The annual $6.95/month plan is available for new MoviePass subscribers only, and gives new subscribers the ability to attend up to one new movie per day in theaters for a whole year. MoviePass works at over 91% of theaters in America. MoviePass, with over two million subscribers, contributed during recent opening weekends 17% of box office to Paramount Picture’s Annihilation, 10% of box office to Orion Picture’s Every Day, and 9% of box office to Fox Studio’s Love, Simon.
“Our vision has always been to make the movie going experience easy and affordable for anyone, anywhere,” said MoviePass CEO Mitch Lowe. “With the current growth and support that we’ve seen within the last several months, our studio and exhibitor revenues and other marketing partnerships have motivated us to lower the price once again, offering movie lovers greater access to MoviePass.”
MoviePass is currently 81% owned by HMNY. MoviePass first introduced its landmark $9.95 per month subscription plan in August 2017. MoviePass has recently expanded its executive team and increased its profile across the entertainment industry through initiatives like its involvement in the SXSW film festival, the Sundance Film Festival, and HMNY’s formation of MoviePass Ventures, a wholly-owned subsidiary of HMNY founded to acquire rights in films with film distributors.
“We believe our business will succeed by granting the public greater access to see movies how they were originally intended to be seen – in theaters,” said HMNY’s Chairman and CEO Ted Farnsworth. “As the leading movie theater subscription company, we want to bring better value to our MoviePass fans. With this new annual plan, MoviePass is bringing cinema back to the masses.”
The MoviePass $6.95/mo annual subscription plan is paid annually and has a one-time processing fee of $6.55.
The post MoviePass Lowers Price to $6.95 per Month appeared first on BoxOffice Pro.
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