MoviePass Adds Peak Pricing

The plan is changing

The plan is changing

With peak pricing in effect, subscribers will pay more to see big movies at popular times, such as Friday evenings or on opening weekends.

MoviePass indicates which movies are affected by peak pricing by including a red lightning icon above the specific showtime.

The introduction of peak pricing means the company will be tacking on additional fees to a service that starting off costing only 10 bucks a month for a ticket a day. After selecting a showtime in Peak Pricing, the app will take you to a confirmation screen that shows the details of the added charge. Some showings in the app will also display grey lightning bolt icons, signifying that the listed screening does not now incur an added fee, but demand is growing. MoviePass says every subscriber will be able to waive one peak fee per month. "We are still in a testing period with this feature, and to start, members can expect a surcharge fee of between $2 and $6, depending on demand of the showtime in question", reads a statement from the company. Also not known: how exactly MoviePass will determine which movies and showtimes are subjected to surge pricing.

MoviePass pays theaters for the tickets its customers use.

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Parent company Helios and Matheson is now running out of money. Last month, MoviePass responded to AMC's foray into subscription offerings by lashing out on social media. Saying it would "require a significant amount of additional capital" to continue as a growing entity, the company reported plans to issue convertible notes worth $164 million and issue 20,500 shares of preferred stock.

MoviePass has launched a "peak pricing" surcharge for the most popular titles at the most popular showtimes.

MoviePass has more than 3 million subscribers and allows customers the chance to see a movie a day for a monthly fee of $9.99.

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