MoviePass is preparing to drastically cut its plan. In an attempt to survive, the app will limit users to just three movies per month. The popular movie subscription service currently allows subscribers to see one movie a day in theaters with certain limitations but has been adjusting its offerings as it battles massive losses. The change is set to take effect August 15th. They have already limited users to seeing each movie only once and introduced peak pricing for more popular movie times.
MoviePass also announced it would no longer raise the price of its plan to $14.95 per month, reversing an announcement last week. The price will stay at $9.95 per month.
Beginning August 15, 2018, MoviePass subscribers will transition to the new plan upon their renewal, which gives subscribers up to three movies a month for $9.95, and up to a $5.00 discount for any additional movie tickets. MoviePass says that “because only 15 percent of MoviePass members see four or more movies a month, the new subscription model will have no impact whatsoever on over 85 percent of our subscribers.”
Monthly subscribers will be given the opportunity to subscribe to the new plan when their current plan comes up for renewal beginning August 15, 2018. Annual subscribers will not be affected by this plan until their renewal dates. Any subscriber can still cancel anytime. If you have annual subscription purchased from Costco, then you can probably get a full refund now and be done with MoviePass. Otherwise you can try going through your credit card for a chargeback.
Read press release here.