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MoviePass to limit users to three movies per month, won’t raise prices

MoviePass to limit users to three movies per month, won’t raise prices

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. "We discovered over several months of research that our customers value a low monthly price above almost everything else, so we came together to create a plan that delivers what most of our loyal MoviePass fans want, and one that, we believe, will also help to stabilize our business model".

The company says this will allow it to create a "long-term and sustainable business model". "The new plan is focused on usage by the bulk of our subscribers who have historically used MoviePass to attend three movies or fewer a month".

Previously, subscribers could see up to one movie per day. The company also raised its subscription fee to $14.95 per month, up from the previous $9.95 per month fee.

The new plan is being implemented to help reduce costs and produce a sustainable business model without resorting to a price increase.

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

As part of the new model, the company is also suspending peak pricing and ticket verification.

Now, many of those changes are being rolled back, though MoviePass isn't returning to its "good old days".

Monday's announcement does not specify limitations on titles, though it does confirm the new plan "will include many major studio first-run film" when changes take effect with renewals on or after August 15.

The change comes a week after MoviePass said it would increase its monthly $9.95 subscription plan to $14.95.

MoviePass CEO Mitch Lowe blamed the change on the small number of users who were taking advantage of the "unlimited" promise. 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. Parent company Helios and Matheson Analytics had to beef up its shares by executing a 1-250 reverse split, and sellers still dumped the stock.

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