- MoviePass just cut subscription fees to $7.95 per month and topped two million users.
- The movie-ticket subscription service has also signed deals with two major and six indie studios to co-distribute and market new films.
- CEO Mitch Lowe says that when MoviePass has had a paramount impact on indie films—adding up to 8 percent to their bottom line.
Movie theater ticket sales hit a 20-year low in 2017, but one rapidly growing subscription service is trying to get more people into theaters by cutting its already low prices – and expanding into new ventures.
MoviePass, which launched in 2011 and now boasts more than two million subscribers, allows users to see one film in theaters every day for a flat monthly price. Membership has skyrocketed since Mitch Lowe took over as CEO this past June and slashed fees from $30 a month to $9.95. In just two days after the fee reduction, sign-ups shot up by 150,000.