Stubs A-List is a web and smartphone-based program that allows users to see up to three movies per week for $19.95 per month (plus tax). That's more expensive than the $9.95 monthly fee for MoviePass, but AMC's plan gives access to premium format screenings like IMAX and 3-D.
An AMC representative told The Verge that the company's new service was not intended as a direct challenge to MoviePass. However, there have been hiccups along the way like sudden blackouts on certain titles or theater chains refusing to accept the MoviePass service.
"We believe that our current and future loyal guests will be interested in this type of program", said Adam Aron, CEO and President of AMC Theatres. Since MoviePass slashed its monthly fee, questions have mounted over the long-term viability of its economics.
Starting June 26, AMC Theatres is offering AMC Stubs A-List, which enables guests to see up to three movies per week, along with the benefits of AMC Stubs Premiere, for $19.95 per month. Aron foresees the membership price going up or down depending on the marketplace. Shares of Helios and Matheson Analytics, the parent company of MoviePass, plunged more than 29%.
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Exhibitors like AMC have long argued that the company, a division of Helios and Matheson, has an unsustainable business model since it typically pays full price for every ticket sold to its users.
AMC has announced the launch of its new Stubs A List Plan. Subscribers can see all three movies on the same day if they wish and can watch the same movie repeatedly but can't carry over credits if they see fewer than three films per week.
AMC is estimating that subscription members will see an average of 2.5 movies a month.
Indeed, this plan offers about half of what MoviePass offers, but let's get real ... not too many folks have time to watch a movie per day, and there aren't enough offerings to cover each day of the month anyway.