It only took them one month to gain 500,000 subscribers, but the MoviePass subscription service has now officially passed the 2 million mark, the company announced on Tuesday.
“We’re giving people a reason to go back to the movie theaters and they’re going in droves, “ chief executive officer Mitch Lowe said via CNN Money. “With awards season here, we hope we can make Hollywood and exhibitors very happy by filling seats with eager audiences. Based on the dramatic increase in the number of MoviePass subscribers over such a short period of time, we believe MoviePass will continue to grow its subscriber base significant.”
Short period of time is right. The service announced last August that their monthly fee would be decreasing from $50 (or $45, $40, $35, depending on where you lived) to $9.95. They saw an instant growth rate, with Lowe saying their company is responsible for one in every 35 tickets sold.
The MoviePass app allows subscribers to see up to one movie a day in theaters. Restrictions that only let each movie-goer see a certain film only once have also recently been removed — meaning you can see the upcoming Black Panther, for example, every single day should you so chose.
“MoviePass is attracting people back to the movie theaters by lowering their cost, which we believe is transformational for the industry,” chairman and chief executive officer of Helios and Matheson Ted Farnsworth said via Variety. “We believe the data MoviePass collects from these two million movie-goers will become an important asset to our partners and the future of the movie industry.”
Despite the sudden rise, MoviePass has angered some mega movie theater chains — most noticeably AMC, who pulled out 10 of the chain’s busiest theaters a few weeks ago.
MoviePass, however, claims that they are the ones paying full price for a ticket — meaning theaters should, theoretically, be seeing an increase in sales.
It doesn’t look like the AMC and MoviePass feud is going to end anytime soon, but it also looks like MoviePass has no plans on slowing down. Here’s to another two million subscribers.