Back in August, we covered the launch of MoviePass's new ‘unlimited' plan which offers customers access to watch a movie in a traditional theater once, every day. The reason this is so appealing is that this plan is priced at only $9.99/month and that is around the same price that you'd have to pay for a single movie ticket without any subscription. Additionally, the service launched an annual pass which brought the price down to just $6.95/month as long as you paid for the year in advance.
Yesterday, the service announced that they have officially passed the coveted 1 million paid subscriber mark meaning they are taking in nearly $10M a month in revenue. With domestic box offer sales dwindling as more consumers move to the web for their source of movies, a service like this may be the only way to keep the lights on despite theatre companies like AMC threatening legal action against MoviePass.
As a graduate of the University of Massachusetts and our Managing Editor, Colt loves testing out the newest tech products/services. His goal is to help better educate other consumers to ensure the most satisfying purchases decisions on consumer electronics and services. When he is not working on creating new content, Colt enjoys spending time with his two Australian Shepherds, Mia and Zoey.