SALT LAKE CITY — MoviePass just unveiled three new plans for its subscription service.
What’s going on: The company announced Thursday that the new pricing structure will include three new pricing models, all of which offer a different number of movies per month for different rates.
Here’s a breakdown of the plans.
Select: The price starts at $10 per month and will allow you to see three movies every month.
- However, MoviePass will select the titles a week in advance.
- You cannot see movies on opening weekends.
- You can only watch 2D movies.
All Access: The “All Access” plan starts at $15 per month. Customers can see three 2D movies per month, at any point in the theatrical run.
Red Carpet: The highest tier costs $20 per month. Subscribers can see three movies, but they can choose from ones shown in special formats, such as IMAX and 3D.
Why?: “All along, we’ve known that we need to invest heavily to prove our business model and bring enough subscribers into the business to truly understand their usage patterns and allow us to leverage ancillary revenue opportunities,” said Ted Farnsworth, chairman and CEO of HMNY, which owns MoviePass. “However, 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. We believe this new business model will immediately reduce our burn so we can refocus our efforts where they belong: making a permanent and positive change in this industry by creating an amazing theater-going experience and building a company that continues to benefit our nationwide community.”Comment on this story
However: All customers won’t be charged the same monthly fee, according to CNN. In fact, the cost of each tier varies according to your geography. The “Red Carpet” tier could cost $25 per month in some areas.
- Costs differ because average ticket prices are different around the country.
Tough year: MoviePass experienced a tough year in 2018. The company constantly changed its terms of service and its monthly plans. In the summer, customers complained that they couldn’t get tickets to see “Mission: Impossible — Fallout.”
- MoviePass’ parent company, HMNY, saw its stock drop to less than $1, raising fears on Wall Street.