NEW YORK (AP) - AMC Theatres, the world's largest movie theater chain, has unveiled a $20-a-month subscription service to rival MoviePass.
The theater chain on Wednesday unveiled a new service to its loyalty program, AMC Stubs, allowing subscribers to see up to three movies a week for a monthly fee of $19.95. That's more expensive than the $9.99 monthly fee for MoviePass, but AMC's plan gives access to premium format screenings like IMAX and 3-D.
AMC Theaters chief executive Adam Aron said their program is at a "sustainable price." Since MoviePass slashed its prices, questions have mounted over its long-term viability.
MoviePass has attracted 3 million members, but the stock price of the service's parent company, Helios and Matheson, has dropped from $38 a share to 44 cents a share.
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