Theatres introduced a new subscription-based program on Wednesday aimed at giving MoviePass some competition.
AMC's new service is about twice as expensive as MoviePass' offering, which charges customers $9.95 per month for daily trips to the movies, though subscribers can't view the same movie a few times or share their accounts with others.
Although there is no carryover from week to week, AMC notes that all three movies can be seen on the same day (with a two-hour buffer between each show time) and that members can see individual movies they have previous seen. AMC Theatres CEO Adam Aron had this to say in a statement. AMC's leap into the subscription business suggests such services are only growing more vital to the movies business. The AMC Stubs A-List plan also limits subscribers to three movies a week at most and any unwatched movies will not carry over to the next week. Shares of Helios and Matheson Analytics, the parent company of MoviePass, plunged more than 29%. On its official Twitter page, MoviePass accuses AMC Theatres of "repeatedly" attempting to sabotage them while looking to turn a profit of its own.
You'll be able to use it at all AMC locations, including the Dine-in and Classic theaters across the U.S. In addition to being able to see the movies, you also get all the benefits of AMC's Stubs Premiere, which includes VIP service at AMC theaters, no online ticketing fees, and savings on food and beverages while at the theater at no added cost. "Different versions of this type of program have worked well in Europe for more than a decade to drive incremental attendance and we feel strongly that given the choice, audiences will want to see their favorite films in Imax". AMC is also waiving its normal $15 Premiere annual fee for Stubs A-List members. Even though it limits users to three movies a week (no rollover), there's no calendar day restriction, and they can see the same movie a couple of times, which MoviePass users can't. The theater chain expects the service could cost the company $5-10 million in ticket revenue in the next six months, but that those losses are worth future gains.