NEW YORK — MoviePass, the subscription service that is upending the movie theater industry, announced another price cut to its service to $7.95 per month paid annually plus a $19.95 service charge.
The new price also includes a subscription to Fandor, a streaming service with the largest collection of independent films, documentaries, international features and short films. This new MoviePass subscription plan will allow movie-goers to visit the theater every day for a year, and have access to the full Fandor content library for a year, for just under $116. MoviePass now has over two million subscribers and the price cut is a way for the company to get more members faster although it will likely lose more money faster. MoviePass is owned by Helios and Matheson Analytics of NY.
This new annual offer lowers the MoviePass monthly price from $9.95 to $7.95 and is coupled with an annual Fandor subscription. This combined offer is back after testing a limited time run in November 2017; it is now being reintroduced as a limited time offer nationwide.
“MoviePass is not only a phenomenon in the entertainment industry, but it has sparked a movement, now two million people strong,” said Ted Farnsworth, Chairman and CEO of HMNY. “With this new offer, we can make the movement even more accessible to movie-goers. I believe our annual subscribers will become influential movie consumers and an amazing asset and bellwether for the film industry as a whole.”
“Fandor is excited to be part of the disruptive wave redefining how audiences consume entertainment, making a broad range of movies available to our movie-loving subscribers,” said Larry Aidem, President and CEO of Fandor. “We look forward to continued collaborations with MoviePass in the coming year.”
MoviePass presently drives more than 5% of the total nationwide box office and continues to grow contribution as new subscribers join.
“We’re thrilled to continue innovating and reinvigorating the film and movie theater industries with MoviePass and Fandor,” said Mitch Lowe, CEO of MoviePass. “With more than two million MoviePass subscribers, and new ones joining every day, it’s clear that this is a tool moviegoers need and want. This new offer allows us to continue to reach more subscribers.”
Subscribers who sign up for this new offer will be billed $115.35 ($7.95 a month + 19.95 processing fee), and will receive one full year of MoviePass and one full year of unlimited streaming from Fandor.