H&M is now down to 3 pennies a share. Their 52-week high was $9714.38; they are now at their 52-week low.
MoviePass Parent Posts $126M+ Quarterly Loss & Gets Sued By Shareholders At The Same Time
These guys look done.
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MoviePass Reveals $9.95/Month Plan for 3 Films, Ditching Peak Pricing and No Longer Limiting Major Movies
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H&M is now down to 3 pennies a share. Their 52-week high was $9714.38; they are now at their 52-week low.
MoviePass Parent Posts $126M+ Quarterly Loss & Gets Sued By Shareholders At The Same Time
These guys look done.
I thought the same thing multiple times over the past month or so, each time they plumbed a new depth, when they did the reverse split and plunged immediately. But they somehow seem to be hanging on by their fingernails (or someone dives in last minute with a loan).
It sounds weird! Why they just blame people who try to who used it the way the way they advertised? Unbelievable! They have just created an untrustworthy environment for the people. Switching to LSBO was my good decision.
MoviePass is restructuring its subscription model once again, today announcing that it will not be raising prices for its subscribers and instead return to its traditional $9.95/month price tag while limiting how often users can go to the movies every month. Effective August 15, subscribers will transition to the new model upon their renewal and from then on be able to see three movies every month at $9.95.
The move follows negative responses that the company received after it announced its intention to raise the base subscription price to $14.95/month just last week. These users will also gain access to up to a $5.00 discount on any additional movie tickets purchased after they see their three allotted movies in any given month.
MoviePass has had a turbulent summer, beginning with the introduction of Peak Pricing in July, rolling out Ticket Verification to all users, and restricting major film releases from its subscribers for the first two weeks of release. In an interview with The Wall Street Journal today, MoviePass CEO Mitch Lowe confirmed that all of these changes are now being abandoned.
This means that the three films subscribers will be able to see each month will "include many major studio first-run films." The company says that about 85 percent of its subscribers already only see three or fewer films per month, leading to the decision to install the new plan for its entire subscriber base.
Still, it's a major change in comparison to what MoviePass announced one year ago this month, allowing users to see one movie per day every month at $9.95. The new model is akin to what MoviePass was before it surged in popularity last year, when it offered price tiers like $50/month for six movies.
Article Link: MoviePass Reveals $9.95/Month Plan for 3 Films, Ditching Peak Pricing and No Longer Limiting Major Movies
It's pretty simple. They couldn't make money off of the original deal which was one of those too good to be true deals that you could take advantage of while it lasted. Without support from studios and theaters they were doomed to failure; and all the studios and theaters had to do was wait them out while taking their money. MoviePass essentially provided them with data about the popularity of such a service and how people may use it to let them decide if they wanted to offer something similar; all the while paying them at the same time.
