Chuck E. Cheese introduces new subscription plan

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.

01:52You