AMC is planning on releasing a monthly movie subscription service.
Netflix brought subscription-based movie and television streaming to the people. Spotify and Rhapsody changed the music industry, now AMC is planning on changing your movie going experience.
AMC Theaters, the No. 2 movie chain in the United States behind Regal Entertainment, has agreed to a pilot partnership with MoviePass, a three-year-old company focused on letting people go to the movies once a day for one monthly fee.
It frankly wouldnt be smart to ignore the success of subscription in other areas of media, said Christina Sternberg, senior vice president for corporate strategy at AMC, which operates 4,959 movie screens.
The data will determine how fast we go, Sternberg said. Sometimes you first expand the test, sometimes you accelerate the deployment.
The Nielsen Co. said last week that the moviegoing of Americans age 12 to 24 dropped 15 percent in the first nine months of 2014, compared with attendance in the same period a year earlier. Total attendance has declined about 5 percent so far this year compared with last, according to box-office analysts, because of fewer broad-appeal films and about a dozen more modest movies, like Sex Tape and A Million Ways to Die in the West, that missed the mark. [via]