The popular movie theater subscription service MoviePass has changed its pricing plan for the second time in one week.
Last week the company announced it would change its $10 per month subscription that let customers see one movie each day, any movie at any time. To become sustainable, the cost would increase to $14.99 a month and limit the availability of blockbuster movies during their first week.
RELATED: This massive new greenhouse is harvesting its first organic crops, and you could see them in your store soon
But today, the company announced its new plan of limiting subscribers to three movies each month to keep prices at $9.99.
The new plan that will take effect Aug. 15, will offer discounts up to $5 on movie tickets that exceed the three included in the subscription cost. The company will no longer limit first-run films and will suspend peak pricing and ticket verification, two additions that frustrated customers.
BIZ BEAT: We tried grocery delivery service: 5 things we found out
About 15 percent of MoviePass’s 3 million subscribers who see four or more movies each month will be affected, according to a company release.
“We are well aware that during our journey to innovate moviegoing — a form of entertainment that over time has become unaffordable and broken — we’ve encountered many challenges,” said Mitch Lowe, CEO of MoviePass. “We discovered over several months of research that our customers value a low monthly price above nearly everything else, so we came together to create a plan that delivers what most of our loyal MoviePass fans want, and one that, we believe, will also help to stabilize our business model.
FIVE FAST READS
• PHOTOS: Luxury Beavercreek home for sale set on 5.2 acres
• Bob Evans suspends partnership with Urban Meyer
• SNEAK PEEK: New Kettering grocery store features closeout merchandise
• ‘Grocery wars’: How local stores are competing for your dollars
About the Author