MoviePass Will Limit Customers to Three Movies Per Month

Brenda Watkins
August 7, 2018

MoviePass is cutting it short.

In a statement released on Monday, MoviePass revealed its new $9.95 price point, "which gives subscribers up to three movies a month... and up to a $5.00 discount for additional movie tickets" (via The Hollywood Reporter).

We have heard - and we have listened to - our MoviePass Community and we will not be raising prices to $14.95 a month. We are now creating a framework to provide the vast majority of subscribers with what they want most - low cost, value, variety, and broad availability - and to bring some moderation to the small number of subscribers who imposed undue cost on the system by viewing a disproportionately large number of movies. Now, another rule has been added: Customers can only see three movies per month, according to the Wall Street Journal. 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. The company also raised its subscription fee to $14.95 per month, up from the previous $9.95 per month fee. 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.

As part of its new model, MoviePass is doing away with a bunch of other changes, too. Users would have to wait a few weeks before using their subscription to see blockbuster films.

The new plan will not affect annual subscribers until their plan is renewed, but monthly subscribers will be moved to the new plan after August 15.

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

Even with the sharp cut in member benefits, there is no guarantee that MoviePass will be able to survive.

MoviePass made headlines last month when the app suffered an outage because its parent company couldn't afford to pay for customers' tickets.

The stock gained 2 cents on Monday after the new plan was announced.

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