Would you pay $50 a month to watch unlimited movies in theaters? MoviePass thinks so. MoviePass is a new service which will allow subscribers to watch an unlimited number of theatrical releases for just $50 a month. MoviePass is hoping to bring the subscription model that Netflix pioneered for movie rentals to physical movie tickets.

MoviePass wants to revolutionize the theatergoing experience in much the same way Netflix did for home viewing.MoviePass promises to let subscribers watch unlimited movies in theaters, using their smartphones as tickets. The fee is $50 for all-you-can-watch; 3D and IMAX films will incur an additional $3 surcharge. The founder is Stacy Spikes, a former Miramax marketing exec who also founded the Urbanworld Film Festival in 1997.

MoviePass will let users search for a film, find a local showtime, check in to the theater and go straight to the box office.

To prevent abuse, there are a few rules and regulations regarding the service.

-Users are limited to seeing one movie per day. We understand this limitation, but it’s a bummer for those of us who like to see multiple movies on a rainy Saturday.
-Users can only see a movie one time. If you want to re-watch Transformers 3 or another summer blockbuster, you’ll need to pay for your ticket.
-Tickets are non-transferrable.
-Tickets must be purchased the day of the show.
-3D and IMAX tickets will cost an additional $3. The user will just pay the difference in ticket price between -2D and 3D but can still purchase and pick up tickets the same way as with a regular 2D film.