All good things must come to an end and MoviePass is no different. Earlier this year, MoviePass garnered attention for its rising numbers of subscribers that were attracted to the idea of paying $9.99 per month to see one movie per day. The days of being able to go to a new movie each day are coming to a close. After an extremely rough week, MoviePass has announced that will make some adjustments to its subscription plan. Beginning on August 15th, MoviePass subscribers will only be able to see three movies per month.
The announcement of the adjusted subscription plan undoes the previous announcement that MoviePass would be increasing its monthly subscription fee of $14.95. Current customers will have the option to switch to the new three movies per month plan after the current month of their subscription comes to a close. Annual subscribers will have the option to switch their plan when their current plan is up for renewal.
The announcement comes just days after thousands of users reported an inability to use their pass at their local theater. Shortly thereafter, reports surfaced that MoviePass’s financial model has collapsed and their venture had virtually ran out of money. The movie startup hopes this new plan of action will turn the tide and keep their hopes alive in the ever evolving movie business.
