After announcing a price hike just a week ago MoviePass today announced that they will keep their price at $9.95 a month. The catch though is that MoviePass will now limit you to just three movies per month. For each additional movie, you see you will get a $5 discount off your ticket starting August 15th.
“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,” MoviePass said in a press release.
After several outages in the last few weeks that many say was linked to lack of cash, MoviePass has been looking at ways to become more profitable. Now it seems like limiting the number of movies is the way they have decided to go.
“We are well aware that during our journey to innovate moviegoing — a form of entertainment that over time has become unaffordable and broken — we’ve encountered many challenges. However, any industry-wide disruption like MoviePass requires a tremendous amount of testing, pivoting, and learning,“ MoviePass CEO Mitch Lowe said in a statement. “We discovered over several months of research that our customers value a low monthly price above nearly 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.”
What do you think of MoviePass’s new plan to become profitable? Leave a comment and let us know what you think.
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