AMC Theatres Launches $20/Month Subscription

22 Juin, 2018, 18:24 | Auteur: Christine Menetries
  • A parking lot full of movie goer's vehicles and movie goer's approaching the entrance. A large 'AMC' sign in red on cream colored stone movie goers approaching the entrance

Starting in the coming weeks, anyone with a monthly subscription to MoviePass will be charged a $2 fee every time they see "certain" big movies over opening weekend.

MoviePass has been a magnet for media mockery in recent months, from the company's push-and-pull restrictions on ticket sales and teetering on the precipice of bankruptcy to their apparent shameless shilling for one of the worst-reviewed movies of all time.

The theater chain - which recently opened the new AMC Northrock 14 in Wichita - on Wednesday announced its own movie subscription service to rival MoviePass. But when you can't see the latest installment of Jurassic World for free, moviegoers may riot-or they may consider signing up for AMC's service instead.

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Lowe said surge pricing is a way for theaters to spread out viewings of popular movies to less crowded showings and subsequent weekends. "We want to make movies more accessible, they want more profit". If you paid for a year in advance, you won't incur any additional fees (for now). According to Lowe, the new change is meant to encourage more traffic for blockbuster films to MoviePass theater partners in the middle of the week and after a movie's opening weekend. That tracks with the upcoming 3D option, which Lowe said would be between $2 and $6 per ticket. The subscription service's parent company Helios and Matheson Analytics announced today that MoviePass' monthly losses have soared to $40 million in May.

The firm lost a whopping$150.8 million in 2017 after acquiring MoviePass. Tickets may be purchased onAMCTheatres.com or through the AMC smartphone app. This new rule will only apply to those who pay monthly. The firm reached an agreement with institutional investors to issue $164 million in convertible notes as well as 20,500 shares of preferred stock to be used for "general corporate purposes", according to a statement made to the SEC. There's some kind of vague plan in the future to monetize data about its users or to use its subscriber base to negotiate deals with movie chains, but the business plan will have to be particularly excellent to turn MoviePass's dire financials around.

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