MoviePass Is Changing its Plan Yet Again to Stay Afloat
MoviePass Is Changing its Plan Yet Again to Stay Afloat
MoviePass Slashes Offering to Three Films a Month
07 August, 2018, 22:24
Struggling movie subscription service MoviePass will limit customers to three movies per month as the company tries to stay in business by burning through less cash.
MoviePass announced a new subscription plan allowing subscribers to entertain themselves with a new movie everyday at the cost of just $9.95 a month just around this time a year ago.
"Because only 15 percent of MoviePass members see four or more movies a month, we expect that the new subscription model will have no impact whatsoever on over 85 percent of our subscribers", MoviePass said in a press release.
MoviePass was planning to raise the price of its monthly movie-going subscription from $9.95 to $14.95, but is walking that change back.
MoviePass will reduce the number of movies its subscribers can see by 90 percent, with subscribers in the $9.95 monthly fee tier seeing their movie allowance decrease from one per day to three per month. And even after one movie, it'll pay for itself each month.
Though MoviePass says it's not raising prices to $15, there's still a hidden price increase.
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Now, many of those changes are being rolled back, though MoviePass isn't returning to its "good old days". In attempt to burn less money, MoviePassannounced it would not be offering major tentpole releases like "Mission: Impossible - Fallout" on its service during the first two weeks of release. For each additional movie, you see you will get a $5 discount off your ticket starting August 15th.
Peak Pricing and Ticket Verification policies are also being suspended.
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