MoviePass Rival Sinemia Debuts Card-Free Feature
Art and Experience: MoviePass’ biggest rival is rolling out Sinemia Cardless — a new feature that allows Sinemia customers worldwide to reserve movie tickets online without using a physical Sinemia card.
Sinemia announced the new feature Thursday, and said it gives customers the opportunity to get their movie tickets through Sinemia immediately after signing up for the service by using a digital card, eliminating the need to wait for their physical card to arrive.
“We’ve seen incredible demand for our movie ticket subscription service, with many customers wanting to dive right in and buy movie tickets without waiting for a physical card to be shipped to them,” said Rifat Oguz, founder and CEO of Sinemia. “At Sinemia, we strive to provide the best moviegoing experience possible while driving the industry forward, and this is just one example of how we’re moving quickly to address our customers’ needs. Sinemia Cardless makes it easier than ever for people to get their movie tickets in advance.”
The new cardless feature is available to all subscribers with a paid Sinemia account in the US, Canada, the UK and Australia. The California-based company announced on May 4 that it was offering annual subscription plans for as low as $4.99 per month for one ticket per month and $6.99 for two tickets per month.
Sinemia has not disclosed how many subscribers it has. Its marketing has emphasized that it offers tickets to all movies and major theater chains and, unlike MoviePass, includes advanced ticketing and seat selection.
MoviePass parent Helios and Matheson Analytics’ stock has declined to its lowest closing price on Wednesday amid ongoing concerns on Wall Street about a cash shortage. It slid 5 cents to close at 49 cents, the lowest close for the stock since the company went public in 1997. An independent auditor also raised questions in April about MoviePass’ ability to continue operations. The company is losing money because it pays movie theaters full price for the tickets its customers buy.
MoviePass claims that it will eventually be able to monetize its more than two million subscribers by running ads, partnering with theater chains, or figuring out a way to make a profit on the data it collects on its users.