MoviePass will limit customers to three movies per month

Tabitha Dunn
August 7, 2018

MoviePass pays full price for each ticket a subscriber uses, meaning that after a subscriber sees a second movie in a month, the company is operating at a loss.

Under the revised policy, set to begin on August 15, the $9.95 a month fee remains unchanged but MoviePass will drop its surge pricing and its recent move to block sales of tickets to recently opened blockbuster movies. That still works out to something of a deal if you watch enough films in theaters, but it's still going from unlimited movie tickets to just three per month. The company reportedly is offering subscribers who see more than three movies per month a $2-$5 per-ticket discount for any additional passes they purchase via the MoviePass app.

"One year and 3 million plus members later, it has become clear that a small number - only 15 percent - of the subscriber base has been stressing the system".

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. Today, it has chose to go back on that decision - the subscription cost will stay at $9.95/mo.

The change replaces a previously announced plan to raise prices to $14.95 a month.

Additionally, peak pricing and ticket verification will also be suspended.

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

MoviePass CEO Mitch Lowe described the changes in an interview earlier Monday with The Wall Street Journal.

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

The stock of MoviePass's parent company, Helios and Matheson, closed last Friday at just 7 cents.

Current MoviePass subscribers will be moved to the new plan once their current subscription renews. It later said it paid back that loan.

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