Published: Tue, August 07, 2018
Entertaiment | By Lawrence Myers

MoviePass to limit customers to three movies per month

MoviePass to limit customers to three movies per month

MoviePass is cutting it short.

"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", MoviePass CEO Mitch Lowe said in a statement. Those who see more than three movies per month will get a discount if they purchase via the MoviePass app, which could be anything from $2 to $5 per ticket, Lowe says.

In lieu of the proposed price increase to $14.95 a month, the service will keep its subscription price to $9.95 monthly.

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15, MoviePass subscribers will be allotted three films per month, a significant reduction from the current one movie a day allowance. "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". MoviePass originally offered moviegoers the opportunity to see one movie every 24 hours.

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. It didn't take long for the company to burn through all its cash reserves, and the company had to take out a $6 million emergency loan two weeks ago to pay for subscribers' tickets.

Additionally, peak pricing and ticket verification will also be suspended. In the press release announcing its new plan, the company said "the new plan will include many major studio first-run films".

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Helios and Matheson Analytics, the company behind the struggling-yet-popular MoviePass, has launched another Hail Mary in an attempt to turn a profit. Instead of a monthly fee of $14.95, subscribers will continue to pay $9.95 a month.

The new caps take effect August 15, though those with annual subscriptions won't be affected until their renewal date.

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

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