The new subscription deal from MoviePass is for film and music lovers. The company, which offers a Netflix-style monthly plan that lets customers watch movies every day, has partnered with iHeartRadio to offer a new kind of deal.
For $29.95, customers are entitled to four 2D films each month on top of iHeartRadio's All Access on demand feature. The subscription covers just three months, however. MoviePass made the announcement on April 13 in La Quinta, California during the 2018 Coachella Music Festival & Arts Festival.
"Our goal has always been to deliver the best value to our MoviePass family and by partnering with iHeartRadio, we are able to provide access to two premium subscription services at one low price," said Mitch Lowe, MoviePass chief executive.
Why MoviePass And iHeartRadio Are Working Together
It's no secret that iHeartRadio isn't exactly in the best financial situation right now. Variety notes that the company filed for bankruptcy last month.
MoviePass isn't exactly in the best conditions either. Business media and Wall Street analysts have basically declared how the company is bleeding more money than earning some with its unlimited movie plan. As such, the new subscription model could serve as a jumping-off point to other potential subscription deals that will prevent the company from losing even more money.
This isn't MoviePass's first partnership. The company recently announced a bundle with Fandor, which costs $116 each year — except customers had to pay the full price up front instead of a monthly basis. Technically, users are only paying $7.95 per month instead of the usual $9.95 subscription fee.
Take Note Of This Caveat
Going back to the new subscription deal, while it's true that users will save a lot if they bite into the $30 plan for three months, it's still a far more limited proposition as compared to the company's standard offering of one movie per day.
If nothing else, MoviePass could rake in new subscribers thanks to the new subscription, particularly, the fans of iHeart Radio's exclusive service who don't care much about seeing many movies within a month.
The promotion runs into a conflict with MoviePass's ultimate goal, however, which is to control 22 to 25 percent of the weekend box office one day. It's an ambitious one, something that film bigwigs scoff at, although, MoviePass thinks it will get to that point eventually.
Are you a MoviePass subscriber? What are your thoughts about this MoviePass-iHeartRadio bundle? As always, feel free to sound off in the comments section below.