AMC is launching its own MoviePass-like subscription service

Moviepass

Enrollment for the service beings on June 26, and as soon as you enroll the benefits are immediately available.

"Since its inception in 2011, AMC Stubs has continued to evolve to meet the needs of its customers, as it did in 2016 when we introduced the free tier, AMC Stubs Insider", said Adam Aron, president and CEO of AMC Theatres in a statement.

While MoviePass is a cheaper option, Variety said AMC will also offer their subscribers screenings in IMAX, Dolby Cinema and RealD. AMC's leap into the subscription business suggests such services are only growing more vital to the movies business.

MoviePass has caught wind of AMC's A-List program, which they caustically tweeted about earlier Wednesday morning. "A good deal to consumers to be sure, but being done at a sustainable price point where we can be very confident that we will be profitable across the membership base and in turn, that we can share that increased profitability with our studio and premium format partners". Shares of Helios and Matheson Analytics, the parent company of MoviePass, plunged more than 29%.

In this Tuesday, Jan. 30, 2018, photo, Cassie Langdon holds her MoviePass card outside AMC Indianapolis 17 theatre in Indianapolis.

AMC announced the AMC Stubs A-List plan on Wednesday, which will cost $19.95 a month. "Different versions of this type of program have worked well in Europe for more than a decade to drive incremental attendance and we feel strongly that given the choice, audiences will want to see their favorite films in Imax". This new service serves as a rival to MoviePass, which has made a big splash over the last handful of months by allowing people to see a movie a day for a $9.95 monthly subscription fee.

The three ticket cap resets every Friday morning with no carryovers or blackouts, and subscribers can even use all three ticket slots on the same day with a two-hour gap in between each showtime.

AMC is estimating that subscription members will see an average of 2.5 movies a month. However, the company disclosed in May that it was losing more than $21 million per month.

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