AMC Theatres' $20 monthly subscription plan rivals MoviePass

AMC Theatres unveils $20-a-month rival to MoviePass

AMC Theatres unveils $20-a-month rival to MoviePass

Theatres may be giving MoviePass a run for its money.

The theater chain announced a new service to its loyalty program, AMC Stubs, allowing subscribers to see up to three movies a week for a monthly fee of $19.95. AMC Stubs A-List, to launch June 26, will allow members to view available movies at any US -based AMC location, and in any format, including Imax, Dolby Cinema, RealD 3D, Prime and BigD.

AMC CEO Adam Aron today on a analyst call said that he believes the new rewards program can stem the decline in 3D attendance, will help turnout in Dolby auditoriums and certainly move traffic into Imax hubs. However, with MoviePass you get to see more movies per month at less of the cost, and you can go to nearly any theater in the USA to use the service (not just AMC theaters). Users can see up to three movies per week and, unlike MoviePass, there are no restrictions on the type of movie. According to the company, MoviePass is accepted at more than 91 percent of theaters nationwide, including AMC Theatres.

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The comment has been interpreted to be a dig at MoviePass, which was originally founded in 2011 and has been seen as a major disruptor for the movie business. Soon after announcing the launch of Stubs A-List, IMAX announced that it would be in full cooperation with the service and that there would be no added charge to see IMAX movies through the A-List service. Even though it limits users to three movies a week (no rollover), there's no calendar day restriction, and they can see the same movie a few times, which MoviePass users can't. However, the company disclosed in May that it was losing more than $21 million per month.

MoviePass has attracted 3 million members, but the stock price of the service's parent company, Helios and Matheson, has dropped from $38 a share to 44 cents a share. This will be offered through their AMC Stubs program.

Late Tuesday, Helios and Matheson announced it was seeking a reverse split of its shares and that it might delist on Nasdaq if investors don't approve the plan. "Thanks for making us look good AMC!" the tweet read.

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