MoviePass, a subscription ticket reselling start-up, is trying to become the Netflix of movie theaters by offering virtually unlimited movies for less than $10 a month.
But that plan has drawn the ire of the world’s largest theater chain, marking the latest clash in a feud between the 6-year-old MoviePass and the exhibition industry.
New York-based MoviePass, which allows people to see one movie per day by using its app, said Tuesday that it had lowered its monthly fee to $9.95, similar to the price of online streaming services. MoviePass, which says it had 20,000 subscribers as of December, also said it was acquired by New York data technology company Helios and Matheson Analytics Inc. for an undisclosed sum.
Chief Executive Mitch Lowe, a former Netflix and Redbox executive, said in a statement that the price change “completely disrupts the movie industry in the same way that Netflix and Redbox have done in years past.”
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