MoviePass Hits 2 Million Subscribers, Adds $26 Million To Oscar Films

Movie subscription service MoviePass has announced that they have now surpassed two million subscribers but clarify claims about how much they've contributed to people seeing Oscar-nominated films. The service has been making headlines since it introduced a new price plan last year, allowing members to see up to one film per day for only $9.95 per month. This is obviously an incredible deal for regular moviegoers, but the price drop hasn't made theater chains happy - AMC, in particular, wants to ban MoviePass holders.

While the theaters might not be thrilled about the service, MoviePass themselves have seen a huge increase in subscribers since they dropped their prices. In December, MoviePass exceeded 1 million subscribers, and it managed to hit 1.5 million subscribers less than one month later. With another month down, MoviePass has hit their next major milestone: over 2 million subscribers in total - and they don't plan on slowing down anytime soon.

Next: MoviePass No Longer Working At Certain AMC Theaters

THR confirms that MoviePass hit the 2 million mark this week, and CEO Mitch Lowe predicts more growth for the company:

We’re giving people a reason to go back to the movie theaters and they’re going in droves. With awards season here, we hope we can make Hollywood and exhibitors very happy by filling seats with eager audiences. Based on the dramatic increase in the number of MoviePass subscribers over such a short period of time, we believe MoviePass will continue to grow its subscriber base significantly.

Lowe also clarified comments made earlier this week about the impact that MoviePass has had on Oscar-nominated films. Originally, Lowe claimed that MoviePass contributed $128.7 million in box-office revenue to Oscar-nominated movies, attributing this to subscribers being willing to take risks on films they might not otherwise pay to see. However, Lowe has now revealed that the direct revenue to Oscar-nominated films by MoviePass was actually around $26 million for those films nominated in top categories, and $48 million when including any film nominated in any category. The remainder of the original figure included a "halo effect" (MoviePass subscriber recommendations and viewers accompanying subscribers to these films).

Although MoviePass has had to walk back their boasts about contributing to Oscar-nominees' box office figures, that's still a large number of viewers who may not otherwise have chosen to see these films at full price. Of course, there is no way of knowing which MoviePass subscribers may have paid full price for those same films, and which are only seeing them because they are subscribers, but it's a safe bet that at least some of them can be attributed to the subscription service itself.

Next: Why Movie Theaters Do Not Want MoviePass To Succeed

Source: THR

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