In tech they call it A/B testing. Try it one way, then try it another. See which way works best — do that. MoviePass, the innovative theater subscription service that lets viewers pay a one-time fee for total access, knows how to pivot. They understand how to A/B test and figure things out. Last week MoviePass changed its monthly subscription rate to $6.95. Call that B — because when the company launched back in 2012 the A test for a subscription was $40 a month. And it went higher before it went lower. It’s a classic case of a company “figuring out what works” — which also happens to be the advice Mark Cuban gives entrepreneurs 100% of the time. “You’ve got to figure out what works,” Cuban often says from his leather Shark Tank chair. Even those who haven’t figured it out yet, but who display the drive and grind to try, win accolades from the Dallas billionaire.
Cuban obviously likes what MoviePass has figured out. When MoviePass dropped their monthly fee significantly in mid-2017 — all the way to $9.95 a month — they soon found they had not just 20,000 subscribers, but close to 2 million. Dropping it again last week by nearly 30% seems destined to win them even more subscribers. Obviously Cuban likes the plan — his Landmark Theatres just announced that they will participate in the MoviePass subscription service. That means you can go to any of Mark Cuban’s 53 Landmark Theatres locations every day for just $6.95 a month. The Landmark deal adds cache to the MoviePass program because the Cuban theaters tend to focus on Indie films. Here are all the Landmark locations.
A young woman is involuntarily committed to a mental institution where she is confronted by her greatest fear in Steven Soderbergh’s #Unsane which you can watch this week! https://t.co/I21KKbFikM pic.twitter.com/5jKnKUtBWr
— Landmark Theatres (@LandmarkLTC) March 25, 2018