MoviePass continues to scramble, cuts to three movies a month and ends peak pricing
A new week, a new set of rules for MoviePass users.
Poor MoviePass. After borrowing some money to keep the lights on, the service continues to try and find its place in moviegoers’ pockets. Now, according to The Wall Street Journal, diehard movie fans are having their four movies a month plan cut down to just three movies a month.
From the press release,
We have heard – and we have listened to – our MoviePass Community and we will not be raising prices to $14.95 a month. The new plan is focused on usage by the bulk of our subscribers who have historically used MoviePass to attend three movies or fewer a month.
According to MoviePass CEO Mitch Lowe, this move could reduce the company’s cash burn by up to 60%.
If you’re already on a subscription with MoviePass, you will not be affected by these changes until its time for your renewal. If you are month-to-month, however, expect your next month to have these new movie limits. At least prices aren’t increasing (for now).
As someone watching from the sidelines, the constant back-and-forth with MoviePass is exhausting. I can’t imagine actually paying for the service and being constantly bombarded with news that the service is borrowing money or changing rules on what seems like a weekly basis.
“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,“ said Mitch Lowe CEO of MoviePass.
Personally, I think we should pump the brakes on the word “disruption” until you have a service that is actually stable. But maybe that’s just me.
What do you think? Is the company doomed to fail? Let us know below.
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