Are you a cord cutter who’s tired of waiting for Netflix to release new movies? The company’s subscription service lets you see as many new movies as you want for $30 per month.
Two decades after helping to launch Netflix, one of its founders hopes to strike gold again. Netflix co-founder Mitch Lowe has taken over the reins at the MoviePass membership service, according to Bloomberg. It will be interesting to see what changes, if any, Lowe might bring to Netflix’s movie-theater membership service that allows people to see as many new movies as they want for $30 per month. The monthly membership rate is expected to be higher in select cities.
While MoviePass has been around for five years it’s really still in its infancy. This service enhances the company’s at-home streaming services by allowing members to see new movies in the theaters. It essentially operates as a membership-based debit card that you take to use at your local theater. It pays for one person’s ticket, but does not include food, drinks, and other items. According to Netflix, MoviePass is accepted in more than 90 percent of movie theaters in the U.S.
The MoviePass concept comes at an interesting time in American movie theater history. According to Box Office Mojo, attendance at U.S. movie theaters has declined by 17 percent since 2002. Theaters have responded by charging more for tickets, sometimes as much as 45 percent. Concession prices also have risen. Given the average cost of a movie ticket, you’ll have to see about four movies each month to save money with MoviePass.
On the outset, some might compare MoviePass to the subscription services offered by fitness clubs. This concept allows Netflix to earn most of its MoviePass revenue from members not making use of its services. Only time will tell if American moviegoers – and movie theaters – will fully embrace this new membership service at a time when theater attendance continues to decline.