In an effort to keep itself afloat, MoviePass has dropped yet another bombshell in its structure. Previously, the movie subscription company had offered a cheaper annual subscription option, and now, in a new email sent to subscribers, the plan is no longer available and those who already had the plan will have to be downgraded to the original monthly subscription.
“We want to thank you for being a loyal member of our annual MoviePass plan,” the email read. “Your commitment to MoviePass has contributed to making our vision for an accessible and affordable moviegoing experience a reality. After experimenting with different models and options, we believe that our current monthly plan captures the need of our community — keeping prices low while continually striving to offer a wider selection of films.”
Originally, the annual plan allowed subscribers to pay $89 in order to watch a movie a day. Under the monthly plan, however, users are subjected to more restrictions that include choosing from up to six films a day ad only being able to watch three movies a month.
“This new offering is part of the transition to our new subscription model,” MoviePass continued. “We’re excited to offer subscribers the option of going to three movies a month for $9.95 and providing up to a $5.00 discount for additional movie tickets. We are grateful to our MoviePass community and have offered a number of our annual subscribers the option for a refund if the new plan doesn’t align with their viewing preferences. With this transition, we intend to offer more film options so subscribers can continue exploring a wide variety of movies. We believe that our new plan is a positive change in the right direction and that it captures the needs and desires of most of our MoviePass community in our journey for an accessible and quality movie experience.”
In the second quarter of the year alone, Moviepass lost an estimated $127 million. In an effort to restructure and figure out how to make a profit, changes in subscription plans began to pop up, like the limitations on the selections of films available to watch. This came from the fact that Moviepass is required to pay a premium for in-demand films during peak times.