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MoviePass Makes a Major Change to Subscription Plan

MoviePass Makes a Major Change to Subscription Plan”

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 past year. Instead, their full subscription will entitle them to no more than three trips past the velvet rope - the same number of theater visits previously offered under the company's bargain $7.95 per-month plan.

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. However, 85 percent of these customers see three of fewer movies a month, MoviePass CEO Mitch Lowe said in the release, and his company is now focusing on those customers.

15, MoviePass subscribers will be allotted three films per month, a significant reduction from the current one movie a day allowance.

"We have heard-and we have listened to-our MoviePass Community and we will not be raising prices to $14.95 a month", the company said in a news release announcing the rollback of the controversial changes.

This change will likely be unpopular, too, but at least MoviePass is ending the scourge of unavailable showtimes and entire theaters, Peak Pricing lightning bolts and the severe limits on new releases.

The company says the new plan will include "many major studio first-run films".

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

As stock prices and subscriber numbers continue to slip for the subscription service, MoviePass, the online service has announced a new model for subscribers.

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

"I should have accelerated the process of reducing the burn faster in hindsight".

Two law firms announced on Monday that they have begun seeking defendants for class action litigation against MoviePass parent company Helios and Matheson Analytics, claiming that the company over-inflated MoviePass's profitability when presenting information to investors, who then lost money. It later said it paid back that loan.



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