MoviePass to limit customers to three movies per month
07 August, 2018, 14:25 | Author: Rafael Roberts
MoviePass, the struggling movie subscription service, will limit customers to three movies per month.
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.
For $9.95 per month, MoviePass subscribers used to be able to see a movie in theaters every day, if they so chose. The change will be rolled out starting August 15, the latest in a series of changes to the company's customer experiences as it struggles to stay afloat.
Of late, MoviePass has been in the news for all the wrong reasons after it announced that it will be increasing its subscription prices and add surge pricing for popular movie tickets.
For the last many weeks, MoviePass customers have been annoyed by the many changes to the service, to say the least.
MoviePass has shown that many moviegoers will make time to hit theaters when movies are affordable, despite more convenient options such as Netflix and video on demand.
Launched in 2011, MoviePass didn't catch major traction until it lowered its monthly fee to $9.95 in 2017. The company will also suspend "peak pricing" and "ticket verification" for customers on the new plan. The impact was immediate: the subscriber base has jumped from 20,000 then to over three million today.
MoviePass is abandoning those wildly unpopular changes in favor of limiting the number of movies you can see per month. The company has since paid back the loan, reported WSJ. On July 26, the company had to borrow $5 million in cash to pay for movie tickets.
"All along, we've known that we need to invest heavily to prove our business model and bring enough subscribers into the business to truly understand their usage patterns and allow us to leverage ancillary revenue opportunities".
MoviePass's CEO, Mitch Lowe, told the Journal that this new three-movie policy will help the service's burn rate.
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