Moviegoers Don't Want Movie Subscription Services
by EG
When MoviePass gave away movie tickets practically for free, it was an irresistible deal. It was also an unsustainable business model. Theater chains that want to tap into a perceived market for subscription services with a more viable model, though, should take note of a Hollywood Reporter poll that suggests that consumers aren't really interested. Read on for details.
The vast majority of consumers remain leery of movie ticket subscription services — and it doesn't necessarily have anything to do with the rise and fall of MoviePass, which at one time allowed customers to see one movie a day for the low monthly cost of $9.99.
Only 6 percent of 2,201 adults surveyed between Oct. 11-14 said they are certain or very likely to sign up for a monthly plan, while 23 percent say they are split down the middle, according to a Hollywood Reporter/Morning Consult poll conducted from Oct. 11-14. Another 32 percent say they aren't very likely. And (29 percent) said they have no interest.
"Theaters need to convert casual moviegoers," says Morning Consult vice president Tyler Sinclair.
Wall Street analyst Eric Handler of MKM partners isn't surprised by the results. He says movie subscription services now offered by the likes of mega-theater chains AMC and Cinemark are targeting frequent moviegoers.
"They are for people who are their most loyal customers. It's a value-added option for people that want to go to the movies a couple a times a month. They're not meant for the person who maybe goes four times a year. For those people, a monthly service probably isn't the best idea," says Handler.
Get the rest of the story at The Hollywood Reporter.
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