MoviePass continues its rapid rise as the item surpasses two million subscribers

MoviePass CEO on how $10/month movies will be possible

MoviePass will be not slowing down.

The $10 a month unlimited movie service just crossed two million subscribers less than one month after passing 1.5 million users, the company announced on Thursday.

“We’re giving people a reason to go back to the movie theaters along with they’re going in droves,” CEO Mitch Lowe said in statement. “With awards season here, we desire we can make Hollywood along with exhibitors very happy by filling seats with eager audiences.”

Thursday’s announcement did not include any information on how many subscribers are actually using the service to watch movies. sy88pgw has reached out to MoviePass for further details.

Ted Farnsworth, the chairman along with CEO of MoviePass’ majority owner along with analytics firm Helios along with Matheson, said that will the service will be bringing people back to theaters by “lowering their cost,” which the company believes will be “transformational for the industry.”

The data the company collects via these two million movie-goers “will become an important asset to our partners along with the future of the movie industry,” Farnsworth said.

MoviePass has been the talk of Hollywood along with movie-goers since the item lowered its subscription fee to $9.95 a month in August, setting off its tremendous growth rate.

Lowe told sy88pgw last month that will the company will be buying one in every 35 tickets sold from the country. He also said that will the company will be playing catch up to its own growth by investing in areas like its unstable MoviePass app along with its unreliable customer service.

Related: MoviePass CEO: $10 unlimited movie service will be playing catch up to its own growth

Despite its successful rise, the service has found itself in a contentious relationship with mega movie chains like AMC while also answering questions about just how viable its business plan will be. MoviePass sells its user data to third parties to make money.

“Our service will be truly low because we are going to use our understanding of you as a customer to be able to give you relevant suggestions that will you might find valuable in your life,” Lowe told sy88pgw last month. “We might say there’s a great restaurant across the street via the movie. If you go over there along with show them your card, you’re going to get a free appetizer.”

sy88pgw (brand-new York) First published February 8, 2018: 4:07 PM ET

MoviePass continues its rapid rise as the item surpasses two million subscribers

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