MoviePass -- the monthly subscription moviegoing service -- has lowered its price again for a limited time. It is also looking to expand its business.
MoviePass, which has been described as a Netflix-like service for theatrical movie consumers, will now be priced for a limited time at $6.95 per month for new subscribers that buy an annual subscription.
As with its previous plan, subscribers can attend up to one new movie per day in theaters for a whole year.
Previously, MoviePass lowered its price to a $9.95 per month subscription plan in August 2017 from $50 a month -- which dramatically expanded its customer base to 2 million consumers from around 200,000 last summer.
MoviePass works at more than 91% of theaters in the U.S. MoviePass buys tickets from movie theaters and then offers a debit card to subscribers.
The average movie ticket was just under $9 in 2017, according to the National Association of Theatre Owners. Big theater chains such as AMC have been negative on MoviePass’s business model.
As part of the announcement, MoviePass says it is “diversifying its revenue streams,” saying it has struck new marketing agreements with studios and distributors, as well as partnerships with a number of theater exhibitors.
The company believes its growing movie consumer-marketing data can benefit studios.