MoviePass is a service that uses a mobile application with a credit card attached to it. To use the service, you must be near the cinema, which accepts the card, choose through the application film and a session. No matter how much a ticket to the cinema costs – $6 or $20, MoviePass subscriber pays a fixed amount – $10 per month. An exception is made for Imax and 3D displays-they are not covered by the service.
After news that MoviePass will reduce the monthly subscription fee from $50 to $10, the stock rose from $3 to over $30, then the price dropped to $8. However, after the company’s distribution ambitions were announced at Sundance, on January 23 the shares jumped by 20%.