So that price hike to $14.95 a month? That's gone, and the $10 price will remain. HOWEVER, you will no longer be able to see an unlimited amount of films. Instead, the number will be capped at three. Yep, only three movies a month. Here's their statement to Variety...
“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."
Isn't that MoviePass's best selling point? Sounds like a good way to cripple your business, taking something like that away. But to be fair, MoviePass CEO Mitch Lowe seems to know the score. They're struggling, and this is something they feel needs to be done to stay afloat. And he hopes subscribers won't really notice the difference...
“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. 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."
How many of you are still keeping your MoviePass subscription? What impact will this change have on your decision to keep it or not? Let us know!
