We got bad news and good news. The bad news is that if you’re already subscribed to MoviePass, then you are stuck with the $9.95 a month plan.
But we got some good news if you were one of those people holding out. It was announced on Friday (March 23) that the movie theater subscription service would be dropping its monthly price to $6.95 for a limited time for new customers only. They’re doing this because they want more customers.
They currently have over two million subscribers, but they are hoping to get three million before the summer ends. Once they hit the three million mark, they will begin to leverage their customer base to try to renegotiate better deals with theaters. It’s also believed they are collecting data from their customers, which will help with marketing in the future.
CEO Mitch Lowe released the following statement:
“Our vision has always been to make the movie going experience easy and affordable for anyone, anywhere. With the current growth and support that we’ve seen within the last several months, our studio and exhibitor revenues and other marketing partnerships have motivated us to lower the price once again, offering movie lovers greater access to MoviePass.”
They are losing a lot of money right now, but hopefully they are able to make some profit soon. It would be a shame to see this thing fail. I’ve only had it for a month, but I’m already used to paying just $9.95 a month for all the movies I want to see.
Going back to paying $15 for every single movie doesn’t sound appealing to me. Of course, I still will because I love movies, but I will not be happy about it.