AMC and Regal Put the Final Nail in MoviePass' Coffin
It's been nearly a month since Helios and Matheson Analytics' MoviePass has been unavailable, presumably as the cash-strapped parent of the once popular multiplex subscription service rolls out "improvements" to its app. It's not easy competing against global leader AMC Entertainment's (NYSE: AMC) AMC Stubs A-List, and now the country's second largest chain is getting in on the MoviePass roasting.
Cineworld's (LSE: CINE) Regal Entertainment is officially throwing its hat into the ring of the multiplex buffet arena, weeks after industry buzz started percolating that it would follow AMC's lead. Cineworld is now offering up details for Regal Unlimited, a program that's actually a lot closer to the original MoviePass model, which proved so popular that it peaked at more than 3 million members before crumbling, than AMC's own offering. If Helios and Matheson thought relaunching MoviePass was going to be hard before, given its cash flow concerns and the presence of AMC Stubs A-List, things are about to get even harder.
Image source: AMC Entertainment.
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