MoviePass to raise prices and launch three new subscription plans in January

MoviePass is trying to win back its angry customers once again.  

Starting January 1st, 2019, the beleaguered e-ticketing company will give MoviePass users three subscription plans to choose from.  

However, the plans are more expensive than previous MoviePass offerings and the film selections may depend on where you live. 

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MoviePass is trying to win back its angry customers once again. Starting January 1st, 2019, the beleaguered e-ticketing company will offer users three different subscription plans 

MoviePass is trying to win back its angry customers once again. Starting January 1st, 2019, the beleaguered e-ticketing company will offer users three different subscription plans 

The first plan, called ‘Select,’ ranges from $10 to $15 and lets users watch three movies per month. 

MoviePass will announce the available titles a week ahead of time and users are excluded from seeing films during their opening weekends. 

They’re also limited to 2D movies, plus monthly rates may be cheaper depending on where you live – users in NYC and LA are expected to pay higher rates. 

The second tier, ‘All Access,’ costs $15 to $20 – again, depending on where you live. 

‘All Access’ subscribers can see any three movies they want, except for those that are in 3D.

The top tier, called ‘Red Carpet,’ ranges between $20 to $25 per month. Users have access to three movies per month, but one of them can be IMAX, 3D or any other large-format screening. 

The three plans are 'Select,' 'All Access' and 'Red Carpet.' They're more expensive than previous MoviePass subscription services, with the entry level plan starting at $10 to $15 

The three plans are ‘Select,’ ‘All Access’ and ‘Red Carpet.’ They’re more expensive than previous MoviePass subscription services, with the entry level plan starting at $10 to $15 

So, the plans are becoming more expensive, and they’re still limited to three films per month that can be watched at participating MoviePass theaters. 

Additionally, the plan pricing fluctuates depending on where users’ live, so plans are going to be cheaper if you live in South Dakota vs. if you live in New York.   

It comes as MoviePass has experienced a difficult year, with many expecting the company to reach bankruptcy, as consumers flocked the service in frustration. 

‘We have a lot to prove to our constituents,’ Mitch Lowe, MoviePass’s chairman, told Variety.   

‘We don’t just have to prove ourselves to our members, we also have to prove ourselves to the investment community, our employees, and our partners. 

‘We believe we’re doing everything that we possibly can to deliver a great service and we’re in the process of fixing all the things that went wrong.’  

MoviePass believes that the new subscription structure will help it ‘break even’ and get it on the path toward a more stable financial future, Variety explained. 

Earlier this year, it was reported that MoviePass parent company Helios & Matheson had just $15.5 million in the bank. 

In July, MoviePass temporarily went out of service after the company ran out of money, forcing it to borrow an emergency $5 million loan from a hedge fund. 

Since then, Helios & Matheson has forced MoviePass to become a standalone company amid its financial troubles, as Helios faces a fraud investigation by the New York Attorney General, over claims that it misled investors.

MoviePass first launched in 2016, charging customers $9.95 per month, which enabled them to watch one movie a day.    

WHAT IS MOVIEPASS? 

MoviePass is a discount movie ticket service that allows users to see multiple movies per month for a flat rate.

It’s grown to 3 million subscribers, from about 20,000, since it slashed monthly rates nearly a year ago to $10, from as high as $50.

The firm changed its business model last summer to offer a Netflix-style subscription that lets you see a movie a day for a flat fee of $9.95 a month.

But, because MoviePass typically pays theaters the full cost of tickets – $15 or more in big cities – a single movie can put the service in the red, and its financial stability has come increasingly into question.

In summer 2018, MoviePass revealed a plan to raise its monthly fee by 50% to $15, and allow subscribers to see one movie per day. 

Days later, it backtracked on the plan. It now says it will continue to charge just $10, but you can only see three movies per month. 

In recent months, MoviePass also stopped letting subscribers view the same movie multiple times and began requiring moviegoers to send photographs of ticket stubs as proof.

Copyrighted By Dailymail.co.uk. Source

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