Cinemark Declares War on MoviePass With $8.99 Subscription
The movie theater business has been under pressure all year. The stocks of all major exhibitors have taken a hit due to a weaker box office, feeding fears people will stay home more often to enjoy entertainment alternatives like Netflix. The wildly popular streaming service has many companies considering a subscription offering.
This summer, start-up MoviePass -- owned by Helios & Nathanson -- dropped its nearly unlimited service to just $9.95 per month (and only $89.95 for a year-long commitment), which is only slightly higher than the current industry average ticket price of $8.93. Most theater operators seemed unsure of whether to embrace or fight the unproven upstart. But earlier this month, Cinemark (NYSE: CNK) unveiled its Cinemark Movie Club offering, with its own set of features and benefits.
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Source: Fool.com
Cinemark Holdings Inc. Stock
The stock is one of the favorites of our community with 24 Buy predictions and 2 Sell predictions.
On the other hand, the target price of 23 € is below the current price of 24.76 € for Cinemark Holdings Inc., so the potential is actually -7.11%.
