MoviePass reverses pricing changes, but adds monthly movie limit

Angelo Anderson
August 7, 2018

MoviePass says only 15 percent of its more than 3 million users see four or more movies a month, so most customers won't be affected (but it'll come as a blow for the diehards who saw as many movies as their plan and time allowed).

MoviePass is abandoning plans to increase prices.

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.

MoviePass, the financially troubled movie subscription service, is limiting screenings to three a month, the service announced Monday.

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

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.

"Any industry-wide disruption like MoviePass requires a tremendous amount of testing, pivoting, and learning", CEO Mitch Lowe said in a statement, adding that the new pricing will "help to stabilize our business model". The new plan "will include many major studio first-run films". Last week, MoviePass announced subscribers would be limited to certain blockbuster film within the first two weeks of release.

MoviePass, which until last week boasted its, "Any movie". Now, in a bid to pacify its users and stop all that criticism, MoviePass today announced that it will not be raising its subscription price to $14.95/month as it had previously announced. Additionally, the service is also doing away with surge pricing for big movies on opening weekends. In a Securities Exchange Commission filing in April, Helios and Matheson Analytics (HMNY), MoviePass's parent company, disclosed that it estimated its average cash deficit was over $20 million a month for the seven months through April. A service outage through the weekend also prevented customers from checking into theaters or seeing showtimes.

Other reports by Iphone Fresh

Discuss This Article