MoviePass lures in 500,000 subscribers in 1 month

TUCSON, Ariz. - Services like Netflix and Hulu are in almost every household these days, so movie theaters have been trying to compete by adding comfier seats and different items at the concession stand.

Now, MoviePass is striking a chord with movie-goers and drawing thousands every day. The company had half a million subscribers within one month, and it doesn't seem to be slowing down. 

The service lets subscribers see one movie a day for only $10 a month. 

MoviePass' popularity comes as ticket prices continue to rise and cheaper online options increase, but to make money, the company needs to make deals with skeptical theater chains and movie studios.

Already, AMC Theaters has banned the service from several of their locations throughout the U.S.

Analysts predicted a 4% decline in 2017, bringing ticket sales to a 22-year low, but perhaps MoviePass can help them out. 

 

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