A Netflix co-founder, Mitch Lowe, has unveiled quite the deal. The startup he runs called MoviePass has launched a movie ticket subscription pass that costs $9.95 a month and gets you into one movie per day for an entire month.
Since the announcement, MoviePass’s website has crashed, likely due to heavy traffic.
MoviePass will pay theaters the full price of each ticket used by subscribers, with the exception of 3D & IMAX screenings.
MoviePass also sold a majority stake of its company to data firm Helios and Matheson Analytics Inc. on Tuesday.
Mitch Lowe hopes this $9.95 pass leads to consumers heading to the movies more often as his company combats the high prices now associated with seeing a film in theaters.
For more, head to Yahoo! Finance.