MoviePass has some good news and some bad news…
It seems that every day… MoviePass makes their offerings less attractive, and now subscribers are allowed just three movies per month. Fewer monthly films mark the latest move by the cash-strapped company to spend less, and the change will take effect on August 15. According to the company, 85% of users see less than three movies per month.
The good news… is that MoviePass will put up to $5 toward your ticket if you must see more than three movies per month. Additionally, they have decided to keep subscription prices at $9.99 rather than the proposed $5 increase we heard about last week. Surge pricing will also be suspended.
So, it is mostly good news… for subscribers because only 15% will be impacted by this change. Although that 15% may be the company’s biggest advocates (seriously, who goes to the movies that often!?). As for everyone else, they can carry on as usual without the increased fees. The stock was up a whopping two cents per share after this announcement. Oh, MoviePass – you never cease to entertain us…