Helios recently raised $60 million for the expansion of MoviePass, which expects to have more than three million subscribers by the end of next year. Monthly subscriber retention is roughly 96 percent, Mr. Lowe said. “Millennials understand us because they grew up on subscription,” Mr. Lowe said. When Mr. Lowe and Mr. Farnsworth drastically lowered the price, people started signing up en masse. Advertisement Continue reading the main story“I know it’s getting a bad rap in some circles, but we love MoviePass,” said Brian Schultz, Studio Movie Grill’s chief executive.

Source: New York Times December 28, 2017 00:56 UTC