AMC Theatres has announced a new movie subscription plan that competes with struggling MoviePass.
For $19.95, AMC’s program lets subscribers view up to three movies a week. For around half the cost ($9.95), MoviePass allows their subscribers to see a movie a day every month.
Even though the program is seemingly more pricey, AMC’s chief executive has pointed out that their program is more likely to be a success due to their “sustainable price.” When MoviePass released a large discount on their prices, questions were raised about their sustainability as a business. Their parent company, Helios and Matheson, has dropped from $38 a share to 44 cents a share.
Although MoviePass has 3 million subscribers, it hasn’t convinced the public of its long-term viability.
For the price of an AMC subscription, viewers are allowed to see their three weekly movies all on the same day, can see the same movie repeatedly, and can see their films in premium screenings like IMAX and 3-D, where MoviePass restricts such usage. The plan also includes discounts on concessions.
AMC’s new subscription is the first from a top theater chain to rival MoviePass. The move is in an effort to battle for frequent moviegoers.
Although the two subscriptions are now in direct competition, MoviePass does not seem threatened. On June 20, they tweeted,
“Heard AMC Theaters jumped on board the movie subscription train. Twice the price for 1/4 the theater network and 60% fewer movies. Thanks for making us look good AMC!”