As expected, MoviePass has been receiving a lot of outrage from its existing subscribers for this move as well.
MoviePass, a discount service for movie tickets at theaters, is walking back a planned 50 percent price increase after a subscriber backlash.
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.
"One year and 3 million plus members later, it has become clear that a small number - only 15 percent - of the subscriber base has been stressing the system". The company brought in Netflix co-founder Mitch Lowe to run the service, and he promptly lowered the monthly subscription rate and increased the number of movies users could see.
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. Last week, the company said it would raise the price of its plan from $10 to $15 per month, but that's no longer the case.
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Harrison empathized, saying that because it happened during the season, Garrett couldn't defend himself from the people "attacking" him.
Monday's announcement does not specify limitations on titles, though it does confirm the new plan "will include many major studio first-run film" when changes take effect with renewals on or after August 15.
The company will suspend surge pricing, which sometimes added as much as $8 to the cost of an individual ticket. The new plan "will include many major studio first-run films". MoviePass recently announced that it wouldn't be letting customers get tickets for any big release in the first two weeks of its opening, which caused a predictable backlash. So it made more sense to cut the number of movies that subscribers could see in a month instead of hiking the monthly subscription price.
Helios and Matheson Analytics, the company behind the struggling-yet-popular MoviePass, has launched another Hail Mary in an attempt to turn a profit.
The stock gained 2 cents on Monday after the new plan was announced.