MoviePass, the subscription-based service that lets users watch a movie every day, has hit one million subscribers since dropping its price to $9.95.
Back in August, MoviePass was acquired by Helios and Matheson Analytics Inc. and its monthly price was lowered to $10. Its massive price cut has created non-stop buzz around the service, and it’s clearly led to a huge uptick in users.
“We are excited and proud to have reached the one millionth subscriber level in such a short time while still early in the consumer adoption curve,” stated MoviePass chief executive officer Mitch Lowe of the news. “Our focus on creating the best movie theater subscription service experience for our subscribers has propelled our growth to date. We believe that growth will continue as we further develop our application, improve customer service, enhance exhibitor relations and fill movie theater seats for incredible films to be released in the future.”
MoviePass users can watch one movie per day. To do so, they need to check in on the app and use a special credit card to pay for the ticket. It’s quite an ingenious bargain that is breathing new life into going to the movies. Not every theater chain is on board, however. AMC wanted out of its MoviePass arrangement when the $9.95 pricing went into effect, but was legally obligated to continue accepting it. This may cast doubt on the longevity of MoviePass once its current deals expire, but for the time being, you can take full advantage of it.
In hitting the million subscriber mark, that’s the fastest any subscription service has broke the threshold. Spotify hit the mark in five months, Hulu in ten months and Netflix in 39 months.