By Rachel Lewis
August 16, 2017 at 10:08 AM EDT

AMC Theaters has threatened to take legal action against MoviePass, hours after the subscription-based movie ticket company announced it would slash its fees to less than $10, according to Variety.

MoviePass used to charge customers between $15 and $50 to watch unlimited movies at the theater but on Tuesday the company announced it would introduce a universal charge of $9.95. The new cost means that movie-goers can go see one movie every day for around the cost of a Netflix subscription or an average theater ticket, according to The Verge.

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In a statement, AMC Theaters, America’s largest movie theater chain, called MoviePass a “small fringe player” and said their business model was unsustainable. “From what we can tell, by definition and absent some other form of other compensation, MoviePass will be losing money on every subscriber seeing two movies or more in a month,” the company said.

“Accordingly, AMC is consulting with its attorneys to determine if or how AMC can prevent a subscription program offered by MoviePass from being used at AMC Theaters in the United States,” it added.