MoviePass has faced a rough time in the recent days but now is trying to make its future successful quite seriously. The days of getting the liberty to see a movie every day of the month are now numbered as MoviePass had made an unexpected move of not increasing its subscription fees, but instead, the cinema-goers will be restricted to watch just three movies each month maximum starting from August 15. The annual subscribers will not be affected by the new plan until their renewal dates draw in.
Moreover, the new move will also include several major studios first run movie and will dismiss two common complaints of the customer including peak pricing as well as ticket verification.
Although the near to unlimited movie watching days are over, the movie ticketing service giant feels that this move will not affect many of its customers. MoviePass says that on an average, about 15 percent of its present subscribers watch 4-5 more movies each month, so most of the remaining 85% people subscribed to MoviePass should not even notice the new change. Furthermore, with the $5 discount starting from fourth ticket onward is enough as a consolation prize for its 15% subscribers.
The firm, as well as owners Helios and Matheson Analytics, believe that this new move should benefit MoviePass when the question comes to its long-term sustainability. Moreover, it is also expected that the new changes will help make up for the firm’s incredible losses it is facing and help it move towards higher revenue and profit. The firm’s investors seem to agree to the change at least in part as the prices were high up. MoviePass says that it requires 5 million subscribers to get into its loop as it presently hovers close to the 3 million mark.