Cinema chain makes major change to membership offer adding an extra £24 a year
A CINEMA chain is making a major change to its membership offer which will force Brits to pay an extra £24 a year.
Odeon will be hiking up the price of its myLIMITLESS package from £17.99 a month to £19.99.
This adds up to a £2 montly increase, or £24 over a year.
Odeon claims the increase will support “ongoing improvements to the experience” and ensure that the company “continues delivering exceptional value”.
Customers do not have long before this price rise comes into affect.
The increase will start from February 3 2025.
According to the cinema chain’s website, customers recieved an email today alerting them to the change.
This gives them the required 45 day notice.
On top of this, annnual prices will also increase to align with the new monthly rates, which will now include 1 month free.
Customers have taken to socila media to slam Odeon for this move.
One person wrote on X: “@ODEONCinemas £3 myLIMITLESS rise last year and £2 this year. 33% rise Accross 2 years, your having a laugh.”
Odeon’s myLIMITLESS package is a subscription service that allows filmogers to watch as many movies at their cinemas as they want for a monthly fee.
CINEWORLD CLOSURES
One of Odeon’s main competitors, Cineworld, has announced recently that they are closing six more of its locations across the UK.
The Sun reported on December 10 that the chain will be closing locations in: Castleford, Leigh, Middlesbrough, Northampton, Poole and Weymouth.
Cineworld stated that the plan’s outcome has enabled the brand to address “unsustainable operating costs”.
The cinema chain has successfully negotiated rent reductions at dozens of its 90 UK sites, resulting in significant savings and allowing the company to better shore up its finances.
However, landlords at six sites have decided to end their contracts with the chain.
The leisure firm has not disclosed how many jobs will be impacted by the closures.
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The latest closure announcement comes just weeks after Cineworld closed its screen in Shaw Ridge, Swindon.
In July, Cineworld revealed that its sites across Glasgow Parkhead, Bedford, Loughborough, Yate and Swindon Regent Circus would close in October.
The closures have formed part of a major restructuring plan to keep the company’s head above water.
Cineworld has bolstered its financial position further by gaining access to additional funding, including £40 million in liquidity.
Just last year, the business emerged from Chapter 11 bankruptcy in the US.
Filing for a Chapter 11 bankruptcy means a company intends to reorganise its debts and assets while remaining in business.
The company’s shares plunged almost 99 per cent in the five years to 2023, as it was hit particularly hard by the pandemic and the enforced closure of its cinema sites.