- MoviePass CEO Mitch Lowe told Business Insider that subscribers would be able to order premium movies (like Imax and Real 3D) through the app by Labor Day.
- Those movies will have an added charge of $2 to $5.
- Lowe also said surge pricing would be introduced across the US by the end of July.
In the wake of MoviePass‘ launch of surge pricing, in which the movie-ticket subscription service charges $2 to $6 extra for popular movies on the weekends, there’s now some news that subscribers are sure to find more favorable: You’ll get to see Imax movies with MoviePass soon.
In a conversation with MoviePass CEO Mitch Lowe on Wednesday, he told Business Insider that by Labor Day the app would allow subscribers to select, for $2 to $5, the option to see movies in premium formats like Imax or Real 3D.
Currently, MoviePass allows its subscribers to see only standard 2D movies.
“Imagine you’re a customer and now you can go to what typically might be a $17 or $18 ticket for an extra $5?” Lowe told Business Insider. “That’s going to be extremely valuable.”
It’s sure to be a welcome sight for subscribers living in major markets like New York or Los Angeles. In New York City, seeing a movie in Imax or Real 3D ranges from $20 to $24 a ticket, so MoviePass subscribers, who generally pay $10 a month, would be saving money even with an added price as high as $5.
Lowe also said a bring-a-friend option, which he said the company had been testing with its e-ticketing partners, would most likely be rolled out at the same time as the premium Imax pricing. The feature would allow subscribers to buy a second ticket when selecting their movie at the theater. Lowe added that if the friend you bring becomes a MoviePass subscriber within 24 hours of seeing the movie, you will receive a refund for that person’s ticket on MoviePass.
This all comes on the heels of MoviePass’ announcement of implementing peak pricing for popular movies. It was introduced for the first time in a handful of cities this past weekend and charges the MoviePass subscriber extra for seeing a movie the company deems popular at a specific showtime. Lowe said it would take effect for all US MoviePass subscribers by the end of July.
Each month, a subscriber is allowed to waive one peak fee.
Lowe suggested the best way to avoid the surge price was to see popular movies on weekdays.
“Our whole mission is to reenergize the occasional moviegoer, those people who were only going four or five times a year, now they are going nine, 10, 12 times a year with MoviePass,” he said. “They will likely not have a surge pricing because every customer gets one free pass a month. If you go once a month, you won’t pay a surge price. It’s only if you go more than once and you happen to go to a film that may be within surge pricing on a given weekend. So if you see a movie on a Tuesday, the same film that on a Friday may be under peak pricing, you won’t have that charge.”