Is this the future of movie theaters?

A local (for me, 25 miles away in Redding) movie theater is changing its pricing policy. They are going to be something like Netflix.
For $16.95 a month, you can go to the movies here as often as you like.
To me, this sounds crazy, but so does Netflix.
This is in an area where lots of people go to the movies just to get out of the heat. The cineplex has something like 14 theaters, so you will have the chance to see a lot of what you might normally pass.
Does this sound good to you?
How often do you go to the movies?
Can they sustain this business model on popcorn and soda sales?