MoviePass, the service that lets film fanatics pay a monthly $10 fee to see as many movies as they want in theaters, is cutting its prices.
The company, for a limited time, has lowered the price to $6.95 per month for new subscribers who purchase a one-year membership. For the sake of comparison, the average movie ticket price across the country in 2017 was $8.97.
MoviePass originally cost $50 per month last summer, but officials have been slashing those prices to attract more customers, with the aim of collecting information on them, which could then be sold back to studios and theater chains. The company is suspected to be losing significant amounts of money each year.
The price drop is a return to MoviePass’s lowest price point. Last November, the company offered the $6.95 monthly rate (actually an $89.95 annual rate), signaling the company is happy to trade profit for market share for the foreseeable future.