MoviePass was planning to raise the price of its monthly movie-going subscription from $9.95 to $14.95, but is walking that change back. The low price will remain the same, but subscribers will only be able to see three movies a month (down from one movie a day).
The change, which takes effect Aug. 15, will reportedly enable MoviePass to stay in business. The company is running through cash like it's going out of style because it has to pay the full price for each of its subscribers' heavily subsidized movie tickets. MoviePass has been making change after change in recent months to stem the losses, including the introduction of Uber-esque Peak Pricing for popular movies at highly trafficked showtimes and limits on new releases.
MoviePass is abandoning those wildly unpopular changes in favor of limiting the number of movies you can see per month.
"We have heard—and we have listened to—our MoviePass Community and we will not be raising prices to $14.95 a month," the company said in a news release announcing the rollback of the controversial changes. "The new plan is focused on usage by the bulk of our subscribers who have historically used MoviePass to attend three movies or fewer a month. Additionally, the new plan addresses past misuses which imposed undue costs on the system, including ticket scalping, unauthorized card usage and other activities, which in the past necessitated the use of certain remedial measures that have sometimes been inconvenient for our subscribers."
According to MoviePass, only 15 percent of its more than 3 million subscribers see more than four movies per month. Presumably, few users will be affected by the new limit. For those who go over their film allotment, MoviePass will offer discounted tickets through its app.
This change will likely be unpopular, too, but at least MoviePass is ending the scourge of unavailable showtimes and entire theaters, Peak Pricing lightning bolts and the severe limits on new releases.