Cinemark announces new subscription service for movie theater fans

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However, it's hard for exhibitors to pull off a MoviePass model: There's no way for them to discount significantly without cutting into a studio's rental, and that's what the majors don't want.

An additional argument in that general direction: This week, Cinemark announced a movie plan of its own. Dedicated cinephiles could save hundreds every month in their film-going budget, and casual movie-goers had an incentive to head to the theater rather than watch on the home screen. Although MoviePass appeals to individuals who head to several movies a month, the Cinemark service targets less frequent users. While Cinemark's rollover clause is unique, it's no where near what MoviePass is offering: unlimited movie tickets for $8/a month.

For the $8.99 monthly fee, consumers are given one 2-D movie ticket each month with premium format ticket upgrades available.

You can check out Moviepass' program on their website, and the same for Cinemark.

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The business media is making out that the new Cinemark program is some sort of threat to MoviePass with shares of the latter's corp Helios and Matheson Analytics Inc. down close to 3% from the opening bell with $9.52 a share versus Cinemark's $36.21, -0.2% as of 8AM PST. "Maybe we can encourage that person to come six or seven times a year". CEO Mark Zoradi told CNN Money the new pricing structure was aimed at "millennials" and its market research had found the most desired trait in a subscription service was the option to stockpile tickets. MoviePass' deal for subscribers is incredible-and its long-term business model can seem equally hard to believe.

At the same time, members will be able to reserve seats and buy tickets in advance with no online fees.

Currently, many movie theaters including AMC and Regal say Movie Pass is creating an unsustainable model that will hurt the industry in the long run. Cinemark Theaters is the 3rd largest theater chain in the United States and now wants to take on Movie Pass with their own $8.99 a month service.