The New York Times is reporting that MoviePass, the subscription based plan that allows subscribers to see a movie a day per year, or up to 365 movies in theatres for a single monthly fee, has just suprassed one-million subscribers, even if the theatre owners aren’t quite on-board.
Yet attendance was flat at North American cinemas in 2016, and analysts are predicting a 4 percent decline in 2017, bringing ticket sales to a 22-year low.
Perhaps something more radical is necessary.
Mitch Lowe, a Netflix co-founder, certainly thought so when he took over a ticketing firm called MoviePass in June 2016. By August of this year, when MoviePass introduced a cut-rate, subscription-based plan — go to the movies 365 times a year for $9.95 a month — Mr. Lowe had been declared an enemy of the state. “Not welcome here,” AMC Entertainment, the largest multiplex operator in North America, said in an indignant August news release that threatened legal action.
It may be time to get on board: MoviePass said this month that it had signed up more than one million subscribers in just four months. It took Netflix more than three years to reach that level when it started selling low-priced subscriptions for DVD rentals in 1999. Spotify was relatively quick, at five months in 2011. It took Hulu 10 months to reach one million later that year.
Read the full story here.
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