Chuck E. Cheese introduces new subscription plan

  • 3 weeks ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Chuck E. Cheese’s new subscription plan.
Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on the street today, a
00:05choppy session to start the week as investors await economic clues on inflation,
00:09housing, and corporate results from Walmart, Home Depot, and Warren Buffett's Berkshire Hathaway.
00:15In other news, Chuck E. Cheese is the latest dining chain trying to lure back customers with a discount option.
00:22The kids entertainment destination is going the subscription route in order to offset inflation. At
00:29$7.99 a month, the cheapest plan comes with a 20% discount on meals and 40 games per visit.
00:36Go up to $11.99 and you get a 30% discount on menu prices and 100 games.
00:42The top-tier package comes with 50% off your food bill and
00:46250 games per month, all for $29.99.
00:50The plan includes one visit per day and games can be divided by up to six family members.
00:56According to Executive Vice President Mark Kupferman,
00:59quote,
01:00our goal was to offer great value and develop an easy and fun solution for everyone.
01:06After nearly a year of successful testing in several markets and great demand, we've seen firsthand how much families love it.
01:13We're thrilled to launch this program nationwide.
01:16Chuck E. Cheese is locking in new subscribers for one year. Only then can an account be canceled.
01:22If a 12-month commitment seems like too much, it is offering two-month deals that come with a higher price tag.
01:28Chuck E. Cheese is not the only food chain
01:31experimenting with ways to get back inflation-weary diners. Taco Bell, Sweetgreen, and P.F. Chang's all have
01:39different spins on the pay-per-month model made famous by Netflix.
01:43That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittens with the street.
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