MoviePass has been profitable since its relaunch last year, and the movie ticketing service announced Tuesday it achieved its first profitable year in its history.
This milestone is especially noteworthy when viewed. The original lifespan of MoviePass and its fire in 2019, during which the service ran out of money while offering an unlimited plan for $10 per month. The number of subscribers to the relaunched service has not yet been disclosed, but the company also announced that 1 million movie tickets have been purchased through the service since the first quarter of 2023.
movie pass Currently running on a credit-based system This subsidizes the price of movie tickets, especially during less popular showtimes. When we tested the service last year, we found that the system saved the most money if you attended a screening on a weekday, but if you went to see a new movie on a Friday night, the price was about the same as in a movie theater. was. MoviePass CEO Stacy Spikes said in his announcement that the system is powered by artificial intelligence and further incentivizes participation by lowering credit prices for subscribers.
“Achieving this pivotal milestone highlights the powerful impact of AI and machine learning enhancements from our previous business model, while continuing to drive value for our members and support our partners,” Spikes said in the announcement. This means increasing attendance and increasing revenue.” “But none of that would have been possible without the support of the MoviePass community.”
MoviePass recently Purchase virtual cards and online movie tickets, plans to expand to allow the purchase of Imax screenings later this year. Although MoviePass supports most movie theaters by allowing subscribers to make purchases with their cards, the service currently competes with similar subscription services offered by movie theater chains. AMC’s A List, legal unlimited service and alamo drafthouse season pass.
