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Published: Wednesday, June 20, 2018 @ 2:50 PM
— AMC Theatres has announced it will offer a movie subscription service that will compete with MoviePass.
Variety reported that the service will allow guests to see up to three movies a week for $19.95 a month through AMC’s loyalty program. Called AMC Stubs A-List, the price point is higher than MoviePass’s $9.99 plan. On the MoviePass service, customers can see one movie a day.
"We believe that our current and future loyal guests will be interested in this type of program, as AMC Stubs A-List rewards guests with something that no one else offers: the very best of AMC, including IMAX, Dolby Cinema and RealD 3D up to 3 times per week, for one simple, sustainable price," AMC Theatres CEO and president Adam Aron said in a statement, likely referring to MoviePass.
AMC Stubs A-List subscribers can also see all three movies in one day, see the same film more than once and get tickets in advance. MoviePass subscribers must be within a certain range of the theater to book tickets to 2D movies and cannot buy tickets for the same film. However, they can see a movie anywhere Mastercard is accepted. The company provides the service through a MoviePass-enabled Mastercard.
"AMC Stubs A-List is being taken to market at more than double the price of that charged by some of our competitors," Aron said in a conference call with investors, according to The Associated Press. "A good deal to consumers to be sure, but being done at a sustainable price point where we can be very confident that we will be profitable across the membership base and in turn, that we can share that increased profitability with our studio and premium format partners."
"Other discounters, by contrast, will continue to be hemorrhaging cash."
The latter comment is likely another dig at MoviePass, which was the subject of an April Business Insider report. In the report, an independent auditor for the company’s owner expressed doubt that MoviePass could stay in business.
CNN reported that, according to AMC, MoviePass will still be accepted at all its locations.
MoviePass responded to the news in a couple of tweets, saying, "Heard AMC Theaters jumped on board the movie subscription train. Twice the price for 1/4 the theater network and 60% fewer movies. Thanks for making us look good AMC!
"AMC has repeatedly disparaged our model as a way to discourage our growth because all along they wanted to launch their own, more expensive plan. We want to make movies more accessible, they want more profit."
Heard AMC Theaters jumped on board the movie subscription train. Twice the price for 1/4 the theater network and 60% fewer movies. Thanks for making us look good AMC!— MoviePass (@MoviePass) June 20, 2018
AMC has repeatedly disparaged our model as a way to discourage our growth because all along they wanted to launch their own, more expensive plan. We want to make movies more accessible, they want more profit.— MoviePass (@MoviePass) June 20, 2018