AMC Theatres launches subscription movie service to rival MoviePass

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Variety reports that "the theater chain will begin offering guests the chance to see up to three movies per-week for the monthly fee of $19.95".

In addition to seeing up to three movies per week, AMC Stubs A-List members also get the benefits of AMC Stubs Premiere, including free upgrades on popcorn and soda, free refills on large popcorn, express service at the box office and concession stand, no online ticketing fees, and 100 points for every $1 spent for the AMC Stubs A-List monthly fee and food and beverage spending at AMC theaters. AMC Theatres CEO Adam Aron had this to say in a statement.

MoviePass and AMC have feuded in the past over specifics regarding MoviePass access to AMC theaters and even went so far as to take some AMC theaters out of the MoviePass cache. Will AMC Theaters lose money on this service?

However, there have been questions raised recently about the sustainability of MoviePass' business model. MoviePass works at most theaters in the US, not just AMC, because the company pays full price for each and every ticket.

AMC has announced the launch of its new Stubs A List Plan. As it turns out, the theater chain was simply biding its time before launching a new AMC Stubs A-List program to compete directly with the movie subscription service.

AMC Theatres shares rose almost 2.5% on the announcement.

MoviePass has attracted 3 million members, but the stock price of the service's parent company, Helios and Matheson, has dropped from $38 a share to 44 cents a share.

In this Tuesday, Jan. 30, 2018, photo, Cassie Langdon uses to her phone to launch the MoviePass app to see what movies are available at AMC Indianapolis 17 theatre in Indianapolis.

MoviePass and AMC have been at odds since soon after the movie subscription service announced its unlimited plan last summer. Currently, it offers two plans: one that costs $9.95 per month and allows users to see a new 2D film every day, or a $7.95 per month version, for which users may see three 2D movies per month. Also, because it's specifically an AMC service, it comes with the benefits of AMC premium which include discounts on snacks and tickets.