By Nathan Vicar
(AMP) There’s nothing like going to see a movie in a theater, but it’s definitely not cheap these days once you add the price of tickets and concessions.
MoviePass hopes to change everything after announcing a new deal earlier this week.
For $9.95 a month, subscribers can see one movie a day in any US movie theater.
The premise is simple: after downloading the app and agreeing to the service, you can see up to one movie per day, every day, at any theater that accepts debit cards. Your trip to the movies is subsidized by MoviePass, which pays the full price of your ticket every time. The MoviePass does not cover IMAX or 3D movies.
If only they had a similar subscription for popcorn…
Earlier this year, the average cost of a single movie ticket hit a record high of $8.84, according to the National Association of Theater Owners.
MoviePass’ previous subscription prices varied from $15 to $50, depending on location and number of movies chosen.
The company could face huge losses, but has secured funding to make up for the new subscription plan, according to The Business Insider.
MoviePass was founded in 2011, and is currently available in 91 percent of movie theaters in America.