Helios and Matheson Analytics Inc’s (NASDAQ:HMNY) MoviePass is offering subscriptions for an even lower price.
New subscribers that decide to take out a MoviePass subscription will now pay $6.95 per month for the membership. This subscription is paid once a year and there’s also a one-time processing fee of $6.55. This brings the total cost of the service to roughly $90 per year.
The deal is only available to new subscribers of MoviePass, which may be a bit of a bummer for current subscribers. The lower price will also only be around for a short time due to be a limited offer. The company doesn’t say how long it will be offering the lower price to new subscribers.
MoviePass is a membership that allows customers to go see a new movie once a day every day of the year. The service works with 91% of all movie theaters in the U.S. and already has over 2 million subscribers.
“Our vision has always been to make the movie going experience easy and affordable for anyone, anywhere,” Mitch Lowe, CEO of MoviePass, said in a statement. “With the current growth and support that we’ve seen within the last several months, our studio and exhibitor revenues and other marketing partnerships have motivated us to lower the price once again, offering movie lovers greater access to MoviePass.”
The new price of $6.95 per month for new MoviePass subscribers represents a 30% decrease from the prior price of $9.95 per month.
HMNY stock was down 2% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.