MoviePass, the subscription service that’s disrupting the movie theater industry, reported Wednesday that it had generated $128.7 million in box office sales for Oscar-nominated films.
“MoviePass is actively driving movie-goers to the theater at a critical moment in the year,” said Mitch Lowe, CEO of MoviePass. “At a time with ‘For Your Consideration’ billboards up all over Tinseltown, we are promoting these pictures to our MoviePass subscribers.”
The company said it contributed 8.79 percent of the box office receipts for “Call Me By Your Name,” 6.18 percent for “Lady Bird,” 6.89 percent for “Three Billboards Outside Ebbing, Missouri,” 7.87 percent for “The Shape of Water,” and 5.57 percent for “The Post.”
“Because of MoviePass, I believe more people are connected with these films now and MoviePass has created more exposure for these nominees and the Oscars,” Lowe added.
— MoviePass (@MoviePass) January 23, 2018
MoviePass is a subscription service that charges its users $9.95 per month in exchange for seeing one movie per day for free. The service has attracted more than 2 million subscribers, with the majority of its growth occurring since dropping the price of its subscriptions in August.
“Over the last three weeks, MoviePass contributed 4.6 percent, 5.6 percent and respectively 5.7 percent last week to total nationwide box office,” said Ted Farnsworth, chairman and CEO of Helios and Matheson Analytics Inc., which acquired a majority stake in MoviePass last summer. “As we continue to see accelerated growth of the MoviePass subscribers and the continued shift in the movie theater landscape, we are very excited to watch consumers attach to our product and brand and use their MoviePass.”
The company boasts availability at more than 4,000 theaters and more 36,000 screens. However, noticeably absent are 10 of AMC Theatre’s top-performing multiplexes, which MoviePass pulled out of in late January after the two companies failed to agree on a “mutually-beneficial relationship.”
AMC, which is the largest theater company in the United States, operates six theaters in the Triangle, as well as two in Fayetteville, one in Wilson, one in Greensboro and one in Greenville. None of the theaters in the greater Triangle area are affected by MoviePass’s decision.
MoviePass is also not accepted at Marbles IMAX in downtown Raleigh, which offers its own membership service to moviegoers.
The 90th Acadamy Awards take place March 4, giving MoviePass almost a month to tout its further influence on box office sales ahead of the Oscars.