MoviePass will limit everyone to 3 movies a month

07 August, 2018, 14:27 | Author: Irvin Gilbert
  • MoviePass Slashes Offering to Three Films a Month

The company says that since only about 15 percent of its subscribers see four or more movies a month, this restriction is unlikely to have an impact on a vast majority of them.

MoviePass also announced it was abandoning its previously announced price hike. "Any theater. Any day." on its website, has seen its stock lose almost all its value over the past two weeks as its app has crashed over and over due to a lack of funds.

MoviePass, which generally pays movie theaters full price for each ticket while only charging users their subscription fee, has been struggling financially in recent months. Instead, subscribers will now be limited to three movies a month, with MoviePass offering a discount of up to $5 for each additional ticket.

The change is part of a new model MoviePass hopes will "ensure long-term stability".

Last we heard about MoviePass, the beleaguered company had made a decision to raise its monthly pricing by 50% to $14.95 a month for subscribers who wanted to see a movie every day. MoviePass recently announced that it wouldn't be letting customers get tickets for any big release in the first two weeks of its opening, which caused a predictable backlash. Peak pricing surcharges are also being rolled back, and the frustrating requirement for subscribers to send a photo of their purchased tickets to MoviePass will be ended.

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MoviePass adds that the new plan will include "many major studio first-run films" (yet notably, not all).

The embattled MoviePass is taking out all the stops to survive.

Meanwhile, AMC Theaters has introduced a subscription program of its own to compete with MoviePass, albeit at a higher price point with fewer theaters available. Annual subscribers won't be affected until their respective renewal dates.

MoviePass parent company Helios and Matheson Analytics Inc. on Monday announced a new subscription plan and business model set to go into effect August 15, 2018, in what is viewed by many as yet another last-ditch effort to keep the company afloat.

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