MoviePass now has more than 1 million subscribers
If you have a MoviePass card, you’re in good company. The movie ticket subscription service announced in a news release Wednesday that more than 1 million people now subscribe to the all-you-can-watch ticketing model.
According to a news release, MoviePass’ decision in August to lower prices to $9.95 a month spurred on the subscriber rate. The four-month rate of growth from a little more than 664,000 subscribers to more than 1 million is quicker than the growth rate of Netflix, Spotify and Hulu after those companies introduced similar pricing plans.
"We are excited and proud to have reached the one millionth subscriber level in such a short time while still early in the consumer adoption curve,” MoviePass CEO Mitch Lowe is quoted as saying in the news release. "Our focus on creating the best movie theater subscription service experience for our subscribers has propelled our growth to date. We believe that growth will continue as we further develop our application, improve customer service, enhance exhibitor relations and fill movie theater seats for incredible films to be released in the future."
As of September, about 8,200 of those subscribers were based right here in Austin, according to MoviePass co-founding CEO and current co-chairman Stacy Spikes.
The subscription service has come under fire from other theater chains recently.
Shortly after the subscription price went down to $9.95 a month, American Multi-Cinema Theatres (AMC) threatened MoviePass, saying that their low subscription model “is not in the best interest of moviegoers, movie theatres and movie studios,” Variety reported. “We are actively working now to determine whether it may be feasible to opt out and not participate in this shaky and unsustainable program,” AMC said in a statement.
And Plano-based Cinemark has started offering up its own competing subscription service for its less cinephile-minded consumers.