There are other complications with a business like MoviePass which probably become clearer if you assume it's a theater chain itself offering the pass:

- Their contracts with the distributor (how much do they pay for a butt in a seat?)

- Whether a butt in a seat costs them anything (because they're displacing a full-boat customer) or is even net profitable because

- Theaters make a lot of money by selling expensive popcorn and soda that cost them almost nothing

- Also, the gym membership factor. i.e. people buy subscriptions and then don't really use them.