Published: Tue, August 07, 2018
Culture&Arts | By Hattie Nash

MoviePass Limiting Subscribers To 3 Movies Per Month

MoviePass Limiting Subscribers To 3 Movies Per Month

A few weeks ago, MoviePass went down completely after it ran out of money-its parent company was able to borrow the cash to get the service back up and running.

MoviePass Chief Executive Mitch Lowe said in an interview that the new policy, which takes effect August 15, will reduce the company's cash burn rate by more than 60% and make its attempted transition to profitability "more manageable".

"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.

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With all of these issues percolating in the background, MoviePass has chose to change its tactics and will not raise its monthly subscription price after all. However, 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.

The company is trying to burn less cash so it can stay in business. 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. 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 once-red-hot ticketing service will now limit customers to seeing three movies a month, according to a company press release.

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The new plan is being implemented to help reduce costs and produce a sustainable business model without resorting to a price increase. It is backing away from a plan, announced just last week, to raise the price to $14.95. That change would also come with a limit on new releases, with a two week block on getting tickets to a freshly-screened movie.

For the last many weeks, MoviePass customers have been annoyed by the many changes to the service, to say the least.

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

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