Now that the 3D movie fad is dying out, studios and movie theaters will have to find a way to compete with large HD televisions and services such as Netflix. With the home movie-viewing experience now rivaling that of theaters, something will have to give: either movie theaters will die out, or their business model will change substantially.

Today, a company called MoviePass has launched a service that theatre owners should have been offering years ago. The service is a Netflix-like unlimited pass to view movies in theaters. For a monthly fee, subscribers will be able to view one movie per day at any theater that takes credit cards. The 3D versions of movies are not included. MoviePass will, at first, offer pricing based on location, but the national average is $30 a month.

“MoviePass gives moviegoers the opportunity to see the movies they want, at the theaters they want – perfect for film enthusiasts who are at the heart of Hollywood’s economic engine,” said Stacy Spikes, CEO and cofounder of MoviePass. “Moviegoers now have more at-home entertainment options than ever before, and MoviePass is dedicated to driving traffic back to theaters and reducing the friction of moviegoing.”

MoviePass is rolling out their service Gmail-style with an invite-your-friends system. MoviePass also has an iPhone app that is required for subscribers to “check-in” at a movie theatre and unlock their MoviePass debit card. The company has stated that an Android app is in the works. A video demonstrating how the MoviePass app works can be seen below.