MoviePass to limit subscribers to 3 movies per month

MoviePass

MoviePass

Instead of selling members the right to see one movie per day, any movie, any day of the week, and every day of the month for $9.99, MoviePass will from here on out limit its members to seeing just three "free" movies per month - still for $9.99. "Additionally, the new plan addresses past misuses which imposed undue costs on the system, including ticket scalping, unauthorized card usage and other activities", continued the official statement, "which in the past necessitated the use of certain remedial measures that have sometimes been inconvenient for our subscribers".

With all of these issues percolating in the background, MoviePass has chose to change its tactics and will not raise its monthly subscription price after all. The company reportedly is offering subscribers who see more than three movies per month a $2-$5 per-ticket discount for any additional passes they purchase via the MoviePass app.

MoviePass, which pays theaters the full price of a ticket while charging only a monthly fee to users, depends on more people paying for the service than using it. As a result, the company expects the new subscription model won't affect 85 percent of its customers.

Current MoviePass subscribers will be moved to the new plan once their current subscription renews.

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MoviePass has shown that many moviegoers will make time to hit theaters when movies are affordable, despite more convenient options such as Netflix and video on demand. The company has since paid back the loan, reported WSJ.

The new plan will go into effect on August 15th, and apply for all new and most existing customers. The stock rose 3 cents to 10 cents per share in early trading Monday, soaring over 45 percent on the new plan news.

The company says this will allow it to create a "long-term and sustainable business model".

MoviePass's CEO, Mitch Lowe, told the Journal that this new three-movie policy will help the service's burn rate.

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