Go to Movies Every Day! MoviePass to Charge Only $9.95 Monthly

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MoviePass is a revolutionary idea by Netflix, Inc. (NASDAQ:NFLX) co-creator Mitch Lowe that will encourage you to go to the movies.

MoviePass

Box office numbers have been on the decline as people are avoiding the high cost of going to a movie theater to watch a single feature, and saving that cash to watch a vast amount of films and TV shows with subscriptions to services such as Netflix.

However, Lowe believes more people will go back to the cinema with MoviePass, which is a subscription-based service that would allow you to watch movies in the theaters all month long for $9.95 a month.

The service would limit you to one showing a day, but it seems like a bargain considering you could see up to 31 of the newest movies every month for under $10. MoviePass subscriptions will not apply to IMAX or 3D offerings.

An initial public offering of the service is expected to hit Wall Street this coming March, according to Lowe. MoviePass raised cash by selling a majority stake to Helios and Matheson Analytics Inc (NASDAQ:HMNY), a data firm based in New York.

The average price for a movie theater ticket around the country is currently at $8.89, but this figure goes up higher in large cities, hitting close to $15 in some locations.

NFLX stock fell just under 1.3% Tuesday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/08/moviepass-netflix-inc-nflx/.

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