MoviePass is raising prices, limiting access to first run blockbusters

Shawn Knight

Posts: 12,200   +120
Staff member

MoviePass is spiraling out of control. After being forced to take out an emergency loan late last week to keep the operation afloat (the effectiveness of which was questionable as service disruptions continued through the weekend), the movie subscription service on Tuesday announced the implementation of “several new measures aimed at accelerating the plan for profitability.”

Translation – the service is becoming far less desirable to consumers.

For starters, MoviePass is increasing the cost of its standard plan from $9.95 to $14.95. The change will go into effect within the next 30 days, the company said.

Worse yet, first run movies opening on “1,000+ screens” will be “limited in their availability” during the first two weeks unless otherwise made available on a promotional basis. This change is already rolling out with Mission Impossible 6 being the first flick included in the new policy.

MoviePass said the change was being made “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.”

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.

MoviePass said actions that have been implemented are currently cutting their monthly cash burn rate by 60 percent.

Share value in parent company Helios and Matheson Analytics is down more than 36 percent on the day and is at risk of being delisted from the Nasdaq.

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ShagnWagn

Posts: 1,294   +1,075
I had my doubts the first time I read about this. It is not sustainable at the current prices of movie tickets with how cheap their monthly fee is - even at $15/mo. That is too bad considering the astounding high prices of movie tickets. A big reason why I haven't gone to the movie theater in years, and then only when I'm invited to a movie I knew I would love.
 

Teko03

Posts: 609   +322
50% price increase and offering less...it was good while it lasted. Time to cancel.
 

fl21289

Posts: 97   +80
Was only a matter of time... I still refuse to go to the movies and pay a crazy amount of $ to see a movie. For $60+ for a family, I rather rent the flik, order some friends and family and eat up for the same price.
 

Misagt

Posts: 311   +231
There is rarely a reason to see a move in theaters any more. Usually they are over prices over crowded and usually the movie isn't that. Also we have 50 years of good TV and movies to watch the comfort and quality of home entertainment is at a all time high. Too many other good things to do with your time. I personally think the current system is going to die sooner or later.
 

TheBigT42

Posts: 403   +315
There is rarely a reason to see a move in theaters any more. Usually they are over prices over crowded and usually the movie isn't that. Also we have 50 years of good TV and movies to watch the comfort and quality of home entertainment is at a all time high. Too many other good things to do with your time. I personally think the current system is going to die sooner or later.
You are 99% correct there are only a handful of movies that I have wanted to see at the theater in the past couple of years.