SALT LAKE CITY — As MoviePass struggles to find firm footing, AMC Theatres is already seeing success with its new movie subscription service.
AMC’s subscription plan, which offers three movies per week for a monthly fee of $19.95, is already ahead of its expectations, according to Variety.
The theater chain hoped to see 500,000 moviegoers sign up by the end of June 2019 and 1 million by the end of June 2020.
Within the first few weeks, more than 175,000 people have already signed up, and the company anticipates crossing the 1 million mark before Valentine’s Day.
“We are nothing less than ecstatic about the early consumer response to AMC Stubs A-List, which encourages moviegoers to come to the theater more often, bringing their family and friends with them,” said Adam Aron, the company’s CEO, Variety reported.
AMC’s success comes as MoviePass struggles for stability in the subscription game. MoviePass announced Tuesday it would soon raise its prices from $9.95 to $14.95 per month and limit available movies, according to BuzzFeed News.
“Fans will also find it harder to use their subscription to see blockbuster films opening on more than 1,000 screens. Those films will not be available to MoviePass users in their first two weeks in theaters unless part of a special promotion,” BuzzFeed reported.1 comment on this story
According to BuzzFeed, MoviePass said the decisions were made "to both limit cash burn and stay loyal to its mission to empower the smaller artistic film communities."
The company's announcement comes just days after MoviePass customers expressed outrage over not being able to buy tickets for “Mission: Impossible - Fallout,” according to my report for the Deseret News. MoviePass ended up briefly shutting down last week because its parent company, Helios and Matheson Analytics, reportedly ran out of money.