In effect, the new MoviePass plan is similar to Sinemia, another movie-subscription service that has been running for a while, offering customer a limited number of movie tickets per month. "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". But starting August 15, renewing subscribers will be limited to three screenings a month.
"Because only 15 percent of MoviePass members see four or more movies a month, we expect that the new subscription model will have no impact whatsoever on over 85 percent of our subscribers", the company said on Monday.
Just last week, the company announced that it would be upping the price of its subscription to $14.95 a month. The beleaguered movie theater subscription company is also canceling two other recent changes - "peak pricing" surcharges for popular movies and a ticket verification process - that were meant to stop the company from bleeding money. Instead of a monthly fee of $14.95, subscribers will continue to pay $9.95 a month. "Struggling financially" is a bit of euphemism, actually.
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Blacking out all first-run movies for their first two weeks in theaters.
MoviePass has existed for years, but it used to be a little-known, significantly more expensive program. Additionally, the service is also doing away with surge pricing for big movies on opening weekends.
Current MoviePass subscribers will be moved to the new plan once their current subscription renews. The company already has a three-movie plan for $8 a month.