You can start thanking Mitch Lowe an ex-Netflick executive who now runs a startup called MoviePass. For $9.95. a month customers get in to one showing every 24 hours at any theater in the U.S. that accepts debit cards. MoviePass will pay theaters the full price of each ticket used by subscribers, excluding 3D or Imax screens.
The company raised cash on Tuesday selling a majority stake to Helios and Matheson Analytics Inc, a small, publicly traded data firm in New York. Helios and Metheson shares rose 5.7 percent to $2.95 at the close Tuesday. Shares of theater companies fell Tuesday thanks to MoviePass’s pricing.
MoviePass was founded in 2011, but now in 2017