The company recently added support for a virtual card and online movie ticket purchases, with plans to expand into Imax screening purchases later this year. Despite competition from similar subscriptions offered by movie theater chains such as AMC's A-List, the Regal Unlimited service, and the Alamo Drafthouse Season Pass, MoviePass supports most movie theaters by allowing subscribers to make purchases with its card.
Key takeaways:
- MoviePass has achieved its first profitable year since its relaunch, selling 1 million movie tickets since the first quarter of 2023.
- The service now operates on a credits based system that subsidizes the price of movie tickets, particularly for less popular showtimes, and is bolstered by artificial intelligence to incentivize attendance.
- MoviePass CEO Stacy Spikes attributes the success to AI and machine learning enhancements from the previous business model, and the support of the MoviePass community.
- MoviePass recently added support for a virtual card and online movie ticket purchases, and plans to expand into allowing for Imax screening purchases later this year.