Movie theatre subscription service MoviePass has exceeded 3 million paying subscribers since launching its movie-a-day subscription plan in August 2017. Projections estimate that the service will exceed 5 million paying subscribers by the end of 2018. (it was only 150,000 in September last year – MoviePass Sees Boom with Price Cut)
Parent company Helios says that MoviePass currently represents more than 5% of total US box office receipts, with its peak weeks nearing 8%. When actively advertising select films to its subscribers, box office receipts have apparently seen weeks push to over 30%.
MoviePass has driven Helios’ presence in the entertainment industry. The company recently acquired Moviefone, a multimedia information and advertising service, from Oath, a Verizon company, which has enabled MoviePass to expand its advertising offerings.
In addition, another Helios subsidiary, MoviePass Ventures, has already acquired economic interests in films and teamed up with MoviePass to drive box office for those films, which Helios believes will maximise downstream revenue opportunities.