ibusinesslines.com
ibusinesslines.com December 10, 2018


MoviePass to limit subscribers to 3 movies per month

07 August 2018, 10:25 | Myron Mathis

CREDIT Darron Cummings AP REX Shutterstock

MoviePass app

At the end of July, the service went dark because the company ran out of money, forcing MoviePass to borrow $5 million in cash to get the service back online. Likewise, despite the company's recent restrictions, the updated plan will also include support for many major studio first-run films, and the service will be suspending Peak Pricing and Ticket Verification for subscribers.

The company said in a statement that the new limit, which is supposed to reduce the amount of cash MoviePass burns through, will only affect the 15 percent of its subscribers who see more than three movies per month using the service.

We have heard - and we have listened to - our MoviePass Community and we will not be raising prices to $14.95 a month.

15, MoviePass subscribers will be allotted three films per month, a significant reduction from the current one movie a day allowance.

The movie-per-day option is officially being removed as the company struggles to stay in business.


Under the revised policy, set to begin on August 15, the $9.95 a month fee remains unchanged but MoviePass will drop its surge pricing and its recent move to block sales of tickets to recently opened blockbuster movies.

As stock prices and subscriber numbers continue to slip for the subscription service, MoviePass, the online service has announced a new model for subscribers. The impact was immediate: the subscriber base has jumped from 20,000 then to over three million today.

Following last week's news of a price increase, MoviePass has now announced plans to alter its standard monthly plan instead. That change would also come with a limit on new releases, with a two week block on getting tickets to a freshly-screened movie.

Members who want to see more than three movies will be able to buy tickets through MoviePass at a discount of up to $5 per ticket, the company said.

MoviePass made headlines last month when the app suffered an outage because its parent company couldn't afford to pay for customers' tickets.



Other News

Trending Now

West Hollywood passes resolution to remove Trump’s star from Walk of Fame
Two West Hollywood City Council members are trying to get rid of Donald Trump's star from the Hollywood Walk of Fame. Some West Hollywood officials want it removed because of Trump's "disturbing treatment of women and other actions".

Lemonade stand robber on the run; DNA could help track him
On Sunday the boy returned to sell drinks at the community pool in Monroe, about 30 miles (50km) from Charlotte. Authorities believe the teen left a bicycle and walked from there to the lemonade stand.

DMK workers die of heart attack after hearing about Karunanidhi’s death
Only to see MGR revolt and ride to power in 1977 and consign him to the number two slot in the state's polity for nearly a decade. The movie did not just have an enormous impact on Tamil cinema, but also enormously influenced Tamil Nadu's political scene.

U.S. diplomat warns Trump wants ‘SURRENDER’ from Iran NOT an agreement
The last time Iran was sanctioned, it lost half of its exports, which have now returned to 2.4 million barrels per day. The EU has taken the unprecedented step in a bid to salvage the nuclear deal struck with Iran in 2015.

Star witness Rick Gates testifies against former boss Paul Manafort
Manafort, facing charges of bank and tax fraud related to his work in Ukraine, has pleaded not guilty to the charges. Gates told jurors that he siphoned off the money without Manafort's knowledge by filing false expense reports .

Elon Musk says he's considering taking Tesla private
CEO Elon Musk said on Twitter Tuesday that he's thinking about taking Tesla private, sparking a rally in the company's shares. They were initially driven higher after the Financial Times reported Saudi Arabia has quietly built a big stake in Tesla .

Salon workers recorded hitting customer with broom after botched wax
Thomas says that when she refused to pay for the eyebrow job that she thought was done poorly, an argument ensued and escalated. According News12, Hiuyue Zheng is facing charges of assault, menacing, and criminal possession of a weapon.