In effect, the new MoviePass plan is similar to Sinemia, another movie-subscription service that has been running for a while, offering customer a limited number of movie tickets per month. However, MoviePass claims that only 15 percent of its members actually watch four or more movies per month.
MoviePass, the financially troubled movie subscription service, is limiting screenings to three a month, the service announced Monday. The change will be rolled out starting August 15, the latest in a series of changes to the company's customer experiences as it struggles to stay afloat. While the company was previously set to raise the monthly fee of its movie-per-day plan to $14.95, the service will now keep its original $9.95 cost and instead reduce the number of eligible movie tickets per month to just three. Peak pricing surcharges are also being rolled back, and the frustrating requirement for subscribers to send a photo of their purchased tickets to MoviePass will be ended.
As part of its new model, MoviePass is doing away with a bunch of other changes, too.
When it was first launched previous year, MoviePass allowed subscribers to view an unlimited amount of films each month.
Now, more than 3 million people subscribe to MoviePass. That change would also come with a limit on new releases, with a two week block on getting tickets to a freshly-screened movie.
The embattled MoviePass is taking out all the stops to survive. In the press release announcing its new plan, the company said "the new plan will include many major studio first-run films". In a Securities Exchange Commission filing in April, Helios and Matheson Analytics (HMNY), MoviePass's parent company, disclosed that it estimated its average cash deficit was over $20 million a month for the seven months through April.