In October 2012, following a national beta test, the service switched to a mobile app and electronically preloaded prepaid card. After its launch, MoviePass faced objections from major cinema chains, particularly AMC Theatres, over its business model and sustainability. [9], The company launched in beta in June 2011 in San Francisco. To learn more or opt-out, read our Cookie Policy. During initial trials, it encountered resistance from movie theater chains, resulting in the company going on a "temporary hiatus". [6] The change in business model came with the acquisition of a majority stake in the company by an analytics firm, which sought to widen the service's reach so it could collect more information on customer viewing habits. [19][20], In July 2016, MoviePass unveiled a new plan structure effective in September, with tiers based on two, three or unlimited movies per month. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. MoviePass took a loss on just about every ticket sale. In August 2011, the company partnered with Hollywood Movie Money to conduct its service through its preexisting voucher program and cinema network. MoviePass and Studio Movie Grill were also partnering on testing food features through the MoviePass app including OpenTable (purchases) and Explore More (menu). Some cinemas supported e-tickets through MoviePass. All rights reserved. [24] By September 2017, the number of subscribers had increased to 400,000, to 600,000 in mid-October, to one million in December, and two million in February 2018. Even though the service is no longer around, its influence lives on. It named every last one of them, detailing how much money they're owed from the company. [40] The peak pricing rolled out was $2 to $6 extra during peak times. [51] By October, reportedly over a million subscribers had cancelled the service, and by April 2019 paying subscribers had fallen over 90% from its peak, to 225,000. At the same time, the company announced that it would lower its price for an unlimited plan allowing one film per-day, to $9.95 per month. At one point, after dropping its price to a dangerously low $9.95 a month in the summer of 2017, MoviePass amassed around 3 million subscribers. We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. While MoviePass claimed the card could be used at all cinemas that accepted major credit cards, there was still some hostility from the industry, including AMC Theatres, who publicly disassociated itself from the service. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Helios ownership stake thus increased from 62.4 percent to 81.2 percent. That same month, the company announced at the Sundance Film Festival that it would also acquire and distribute films under the new subsidiary, MoviePass Ventures. According to separate filings with the SEC last year, MoviePass and its various other businesses, including a film production and distribution arm, cost Helios and Matheson more than half a billion dollars. [23][13] After announcing their new pricing, the company's website went down due to the increase in traffic. Farnsworth compared the model to those of Facebook and Google, whose free services are subsidized by the collection of personal information for advertising. [11][12], MoviePass was founded in 2011[13] by technology and entertainment entrepreneurs Stacy Spikes and Hamet Watt. Alamo Drafthouse Unveils "Season Pass" Subscription Service in All U.S. The service went through several pricing structures following its original invite-only launch (including those limited to two or three films per month, and "unlimited" plans, with pricing based on market size), before announcing in August 2017 that it would switch to offering a plan with a single film per day priced at $9.95 per month. [46], On August 6, 2018, MoviePass backtracked on plans to raise its monthly fee from $9.95 to $14.95,[47] but announced that it would instead limit these subscribers to three free tickets per-month, with any further screening offering a $5 discount on the ticket price instead. [5] The service utilized a mobile app, where users check in to a theater and choose a movie and showtime, which resulted in the cost of the ticket being loaded to a prepaid debit card, which was used to purchase the ticket from the movie theater as usual. In June 2018, the company announced in a press release that it had more than three million paying subscribers. "[29][30], MoviePass Ventures' first acquisition (in partnership with The Orchard), Bart Layton's American Animals, was on June 1, 2018, while their second, Gotti starring John Travolta as the titular mob boss, was released on June 15, 2018. [69] According to MoviePass' own reports, the service made up 25–35% of American Animals' opening weekend ticket sales, and around 40% of Gotti's. The new plans were criticized by those who felt that they were designed to gouge "unprofitable" frequent users of the service.

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