Cinemark Declares War on MoviePass With $8.99 Subscription
The movie theater business has been under pressure all year. The stocks of all major exhibitors have taken a hit due to a weaker box office, feeding fears people will stay home more often to enjoy entertainment alternatives like Netflix. The wildly popular streaming service has many companies considering a subscription offering.
This summer, start-up MoviePass -- owned by Helios & Nathanson -- dropped its nearly unlimited service to just $9.95 per month (and only $89.95 for a year-long commitment), which is only slightly higher than the current industry average ticket price of $8.93. Most theater operators seemed unsure of whether to embrace or fight the unproven upstart. But earlier this month, Cinemark (NYSE: CNK) unveiled its Cinemark Movie Club offering, with its own set of features and benefits.
Image source: Getty Images.
Source: Fool.com
Cinemark Holdings Inc. Stock
With 15 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 20 € shows a positive potential of 21.95% compared to the current price of 16.4 € for Cinemark Holdings Inc..
