WASHINGTON (dpa-AFX) - Theater chain Cinemark Holdings Inc. has launched a subscription program for its customers that will give them discounts on tickets.
The company announced that customer who subscribe for the monthly plan of $8.99 will get a credit for one movie ticket a month. Subscribers can also buy additional tickets for $8.99 each and get a 20% discount on food and drinks.
Subscription-based movie ticket service MoviePass had last month launched a cheap plan of $89.95 per year, which means a monthly fee of $6.95. New York start-up MoviePass offers its subscriber unlimited movies in theaters.
Theater chains have never offered discount tickets, due to fear that it will affect its profits. However, strong competition from streaming services like Netflix and HBO as well as startup like MoviePass have made exhibitors to find new methods to improve their bottom-line.
LA Times report says that the number of tickets sold in the U.S. and Canada hit 1.32 billion last year, compared with 1.4 billion a decade ago. Box office revenues this year are down 4% so far, according to ComScore.
Copyright RTT News/dpa-AFX