Regal Cinemas launched its new monthly subscription ticket plan late last month, while AMC and Cinemark's customer ranks have grown to 900,000 and 800,000, respectively.
MoviePass may be on its last legs, but its legacy lives on. The last of the largest U.S. theater circuits, Regal Cinemas, finally unveiled its subscription plan July 29, and it's more aggressive than those of AMC Theatres and Cinemark, allowing "members" to see as many titles as they desire.
But the verdict is out on whether these plans will pay off. On Aug. 2, Cinemark said its program has crossed the 800,000 milestone since launching in late 2017, and that those customers account for 14 percent of the circuit's box office. That was followed on Aug. 9 by news that AMC's customer base has shot past 900,000 since the service's June 2018 launch. In its heyday, MoviePass claimed it had more that 3 million customers. At one point, the service allowed a patron to see a movie a day for just $10.
Analyst Eric Handler of MKM Partners prefers Cinemark's: Members get one ticket a month, plus deep discounts. "Cinemark will make money every single time," he says. "For AMC and Regal, you want people to go to the movies, but you don't want them to go too much. If they go more than three times a month, you are losing money."► Pitch: Subscribers get three movies per month in any of 661 locations and in any format, including Dolby Cinema and Imax.
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