In August of last year, MoviePass shook up the theater industry and the moviegoing experience by drastically lowering the price of its service, and the company is clearly looking to build on that momentum. If you thought MoviePass' standard plan that allowed subscribers to see a movie a day for around $10 a month was cheap, you're right, it was. But now MoviePass is playing the limbo and seeing how low it can go to entice potential customers. The theatergoing subscription service is now offering a limited time offer of $6.95 a month to new subscribers.
The breakdown on the new plan is as follows: the annual plan of $6.95 a month is only available to new subscribers and is paid annually, meaning you pay all 12 months upfront. There is also a one-time processing fee of $6.55. But you came here to find out about cheap movies and not to do math, so I did it for you: including the processing fee and the monthly rate for 12 months, the total comes to $89.95. Now it is important to note that like the last limited time offer of $7.95 a month, MoviePass has given no end date for this promotion, simply stating that it is a limited time offer. It could end tomorrow or in a week or in a month, so those of you who have been considering the service may want to snag this deal as soon as possible.
When speaking about the price drop, MoviePass cited that it has had success and gained momentum building relationships with other industry partners and diversifying its revenue streams, thus allowing it to offer an even better deal to consumers. MoviePass has recently begun making deals with studios, distributors and theaters, which sees the service promoting certain films and exhibitors, which leads to making money beyond just subscriber fees. This price drop comes at an opportune time too, with MoviePass receiving some backlash in the past month for the possibility that it would be tracking the location of its users, though the company later backtracked on the extent of the tracking. MoviePass will still be collecting data, but it will not sell it and will probably use it to better inform its various partnerships.
In the announcement of the new promotion, MoviePass also cited some interesting statistics about the service's impact on the box office returns of smaller films. According to the company, its subscribers accounted for 17% of the box office on opening weekend for Annihilation, 10% for Every Day and 9% for Love, Simon. MoviePass sees itself as a champion of the cinematic experience and a way for people to check out smaller films without feeling like they are making a risky financial expenditure. These numbers certainly support the idea that MoviePass subscribers are more likely to take a chance on a smaller film. Annihilation was largely overlooked in the wake of Black Panther, but subscribers to the service gave Alex Garland's gnarly mindtrip a chance. With MoviePass aiming for 5 million subscribers by the end of the year, making up 20% of tickets sold, this impact will only increase and become more interesting.
Those interested in signing up for the promotion or finding out more about MoviePass can do so at its website. MoviePass isn't the only service available either, as there are alternatives that films fans can consider. For all the movies you might want to see this year, regardless of how you pay, check out our 2018 release schedule.