MoviePass Will Increase Price of Standard Plan to $14.95/Month in August

[MacRumors]

One day after MoviePass CEO Mitch Lowe announced that subscribers will not be allowed to see select major movies like "Christopher Robin" and "The Meg," the company today announced a price hike for subscribers to its standard plan. The price of this $9.95/month tier will increase to $14.95/month "within the next 30 days," according to a press release shared today.

This increase comes just under one year since MoviePass first began making headlines by dropping its subscription price to $9.95/month, allowing users to see one movie per day and saving money for those who visit the theater often. Now, following ongoing stock price drops, a new "Peak Pricing" feature, and a recent service blackout caused by a sudden lack of money, MoviePass is struggling to stay afloat.

Today's press release also reiterates on the company's plan to limit availability of "First Run Movies" that open on 1,000+ screens (which is typically any major studio release) during their first two weeks, "unless made available on a promotional basis." This refers to films that MoviePass partly owns under its subsidiary MoviePass Ventures, gaining revenue through box office ticket sales on movies like "American Animals" and "Gotti."

According to the company, its goal is to "enhance discovery" and "drive attendance" to smaller independent films like these, and as such has decided to limit ticket availability for "blockbuster" films. MoviePass also admits that it will save money by restricting its subscribers from being able to see movies like "Mission: Impossible Fallout" and "The Meg."

In an effort to maintain the integrity of the MoviePass mission, to enhance discovery, and to drive attendance to smaller films and bolster the independent film community, MoviePass will begin to limit ticket availability to Blockbuster films. This change has already begun rolling out, with Mission Impossible 6 being the first film included in the measure.

This is a strategic move by the company to both limit cash burn and stay loyal to its mission to empower the smaller artistic film communities. Major studios will continue to be able to partner with MoviePass to promote their first run films, seeding them with a valuable moviegoing audience.

The company says that these new cost-reduction measures will cut monthly burn by 60 percent. In the end, Lowe says that these changes are "meant to protect the longevity" of the company, although it's still unclear exactly how long MoviePass will be around.

Article Link: MoviePass Will Increase Price of Standard Plan to $14.95/Month in August

 

[Prof.]

Can’t say I blame them considering they ran out of money this past week.

 

[macduke]

This is one of the worst business plans that I've ever seen funded to this level.

 

[preludeoflight]

Boy this tweet aged horribly: https://twitter.com/moviepass/status/1009435583217913857

 

[dannyyankou]

If this means no surge pricing and I’ll be able to see new popular movies, I may sign up. But I’m going to wait and see given what’s been going on the past few weeks.

 

[augustrushrox]

MoviePass Will Increase Price of Standard Plan to $14.95/Month in August.

And for that reason, I'm out.

 

[RiddlaBronc]

"To enhance discovery"
Lol, more like "we have no more money"

 

[mtneer]

I wouldn't sign up until these guys can stabilize the boat and get water out of the engine room.

 

[nfl46]

If this means no surge pricing and I’ll be able to see new popular movies, I may sign up. But I’m going to wait and see given what’s been going on the past few weeks.

Yeah, I'd wait. It seems like every day something is changing with Moviepass. By the end of the summer, I wouldn't be surprised if $14.95 is $19.95.

 

[Saipher]

I guess they read my post on yesterday's article.

MoviePass CEO Says Subscribers Will Be Restricted From Seeing Upcoming Major Movies

 

[ghostface147]

And for that reason, I'm out.

Five bucks is your reason for leaving?

 

[Krayzkat]

Women and children first....

 

[verniesgarden]

If this means no surge pricing and I’ll be able to see new popular movies, I may sign up. But I’m going to wait and see given what’s been going on the past few weeks.

I wouldn't wait too long, I suspect they will shutter doors by the end of August

 

[CrAkD]

I never realized moviepass was only $10 a month. No wonder it's failing. I can't buy one ticket for $10 never mind unlimited. So they banked on lots of people signing up and never going to the movies? This ain't a gym membership. People like movies.

 

[moabal]

I would not be surprise to see an announcement in a few days that they are going out of business. Every day this company makes a big policy change. Who can trust them at this point?

 

[verniesgarden]

I never realized moviepass was only $10 a month. No wonder it's failing. I can't buy one ticket for $10 never mind unlimited. So they banked on lots of people signing up and never going to the movies? This ain't a gym membership. People like movies.

On top of that last Nov they did a huge sale for year memberships that came out to like $8 a month.

 

[itsmilo]

They really have no idea what they are doing eh?

 

[earthTOmitchel]

Five bucks is your reason for leaving?

Not OP, but I see the no blockbusters rule and $5 increase as a one-two punch, and I'm canceling mine now. Although I've watched a bunch of indie movies using MP that I wouldn't have otherwise (Upgrade most notably), the entire reason I got it was for movies like The Meg and Christopher Robin. Big releases I'm vaguely interested in but would usually just wait for an iTunes rental.

I won't stick around when I literally can't watch them, and am paying them $5 extra per month at that.

 

[GizmoDVD]

Five bucks is your reason for leaving?

$60 more a year.

Now a 2 week delay for (most) new movies

"Surge" pricing on movies that are not even popular.

 

[dannyyankou]

I wouldn't wait too long, I suspect they will shutter doors by the end of August

And re-reading the article again, I originally missed this-

Today's press release also reiterates on the company's plan to limit availability of "First Run Movies" that open on 1,000+ screens (which is typically any major studio release) during their first two weeks

I’m out
[doublepost=1533050314][/doublepost]

Five bucks is your reason for leaving?

It’s not just $5 bucks a month. Let’s say I wanted to see the new mission impossible movie, but it’s unavailable due to popularity. I have two options: 1) Pay $15 on a standard movie ticket. 2) Wait 2 weeks to see it with MoviePass.

Big inconvenience.

 

[m0sher]

It was good while it lasted, the movie theaters needed to help a little by discounting the movies to moviepass for driving business to their movies but they didn’t help movie pass because they figured they could do this themselves.....hence “Harkin’s Rewards”.

I bet an analysis would show that movie goers have increased since movie pass increased in popularity and the theater companies may see a decline because of this subscribers movie pass will lose that will correlate to less people going to the movies. Double edged sword the theaters failed to hold properly.

 

[picciano]

I wouldn't sign up until these guys can stabilize the boat and get water out of the engine room.

The boat will only be stable once it is resting comfortably on the ocean bottom. And even then the engine room will be on fire.

 

[Crash0veride]

Wish I got in on the year train, but this will be the last month for me. The subscription has moved over the price of a single ticket around here and I'm heading closer to the break even line. Most movies I see, I'm not especially excited for, so why bother? Movie tickets are cheap here in comparison to elsewhere (I still think overpriced for most theaters).

 

[OC40]

I really wish that a company would contract with distributors to stream movies that are in ththe theatres. FandangoNow has a section for movies that are currently in theaters, but the selection is awful.

I would pay a nice premium for the convenience of watching it at home.

Btw - we haven’t been to a movie theater in about nine years.

 

[78Bandit]

They tried to back the studios and theaters into a corner hoping they would get a bulk-purchase discount. It didn't happen. Their product makes no sense at this point. Customers are only going to subscribe when they are paying less than they would purchasing individual tickets. MoviePass is still paying the full ticket price. It's like selling $20 bills for $15, it can't work in the long term.

I do think eventually movie subscriptions will catch on, but only when offered by the studios or the theater conglomerates directly. The studios are going to do whatever they must to maximize profits and MoviePass was playing no part in it.