Moviepass is a movie going subscription service. The usage of it may not be straightforward so let me quickly explain it then jump into how to use it most effectively to save you money. Used wrong, it can actually make you spend more.
How’s it going everybody this is beat the bush by now you probably heard about movie past but have you ever stopped to consider if it’s actually saving you money first i’m gonna go over really quickly what the heck movie pass is movie passes essentially a subscription service for going to the movies you only pay $10 a month and you get to watch up to four movies
Every single month what you do is sign up for the service and within two weeks you get a credit card like thing with a movie pass logo on it you have to physically go to a movie theater and then you use the app to buy one of the tickets there you can’t buy imax 3d xd the box or any of those special types of movies after you select the movie on the app they load money
Onto your credit card and then you use this credit card to buy that very ticket at a kiosk after you get your ticket you can of course go and watch your movies you can watch up to four movies every single month now the limit used to be one every single day so potentially you could watch up to 30 movies every single month you can only buy one ticket per membership
And you can only watch every single movie only one time so if you really like the movie you cannot watch it multiple times now it becomes interesting how they can actually make money because if you’re only giving them $10 every single month and you watch more than one movie every single month they’re essentially losing money here in fact the parent company helios
And madison bought the company movie pass a while ago before they bought the company they were losing about 7 million dollars every year after they bought the company they’re losing about 150 million every single year this means it’s about 144 additional million in losses they’re taking on every single year now currently in april 2008 teen they have about 2 million
Subscribers so let’s just assume they have 1 million subscriber to last year 144 million dollars lost about $10 a movie less estimated you get about 120 million dollars in subscription fee because $10 every month 1 million subscribers 12 months in a year means they taken 120 million every year but even with this subscription payment they’re still losing a hundred
Forty-four million every single year so you do a little math here about 260 million of movie pricing that they’ve paid the movie theaters you divide this across 12 months and also about 1 million subscribers this means that every single person on average is watching about 2.2 movies every single month people that are getting this movie pass are watching more than
One movie a month now why am i talking about this because i want to talk about this in the point of view of saving you the most money before getting this service you want to ask yourself how many movies did you watch last year for me i only watch about four movies because i’m not that big a movie goer using vouchers i bought from costco and then sometimes i get xt
Movies and stuff because i like watching it on big screens it essentially rounds out to be about $40 for me for those four movies now if i bought the membership for the full year instead it’s gonna cost me roughly about $120 instead now in comparison for this $40 it means i am spending an additional $80 for whatever reason if i normally don’t buy that many movies
And i suddenly get the service it’s certainly not gonna be worth it for me because after i get the service i’m gonna feel compelled to go oh my gosh i’m paying $10 a month i should just go and make it worth my while i need to go watch at least one movie every single month but you really have to consider that i probably would not watch these additional movies if i
Did not have the subscription service because of the subscription service i might be pushing myself to try to use it therefore i might be watching all these not as good movies because generally i only go out when there are really really good movies that i really really want to watch and this is once in a long time now let’s say you go to the movies more often than i
Do maybe 10 movies a year still you are still paying $120 for movies and that means you’re spending $20.00 in addition to what you normally would spend even if you somehow managed to watch 20 movies 30 movies you still spent $20 more now you have to think of this in terms of net worth and expenditure you are essentially causing yourself to spend more yes you might
Be making your per movie cost lower but in the end you’re still making yourself spend more now what are the options here in order to save yourself the most money my thinking is throughout the year there are not always really good movies sometimes there are more good movies than other times for example during the summer months there are often more good movies on
So technically it takes about two weeks to get your membership card so it might be good to get your membership at the beginning of the summer months and then you watch as many as you can which means a maximum of four of movies every single month so if you do this for three months in a row you’ll get 12 movies and you only had to pay $30 here and then afterwards
Maybe when the winter months comes out and then you’re not watching as many movies then you can go ahead and cancel that subscription service for a lot of people if you continuously watch movies throughout the year then even if you watch just more than one movie every single month it’s gonna be worth it for you so go ahead and get that i hope you enjoyed this way
Of thinking about when to get a movie past subscription service for you or not if you’re interested in supporting the channel check on my audible link down in the video description below where you can get a free audiobook if you don’t like this audiobook or this service you can cancel it before the subscription express and you don’t have to pay a thing and yet
You can still keep this audiobook for free and help benefit this channel i have a patreon over here where you can get exclusive access to some of my finance videos where i purposely do not release it to the public because sometimes is a little bit too sensitive and as always don’t forget to subscribe to my channel over here and click that bell icon next it does
Subscribe button so that you get a new notification whenever i upload a brand new video thanks for watching
Transcribed from video
Are You Really Saving Money with Moviepass By BeatTheBush
