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{"id":51152,"date":"2018-08-06T15:01:49","date_gmt":"2018-08-06T20:01:49","guid":{"rendered":"http:\/\/celebrityaccess.com\/?p=51152"},"modified":"2018-08-06T15:01:49","modified_gmt":"2018-08-06T20:01:49","slug":"moviepass-cuts-back-to-3-movies-a-month","status":"publish","type":"post","link":"https:\/\/dev.celebrityaccess.net\/2018\/08\/06\/moviepass-cuts-back-to-3-movies-a-month\/","title":{"rendered":"Moviepass Cuts Back To 3 Movies A Month"},"content":{"rendered":"(CelebrityAccess) — MoviePass announced another major revision of its business model on Monday when they drastically cut back the number of movies its users could see in a month to just three.<\/p>\n
The subscription service had previously allowed its users to see one movie a day with certain restrictions but has been battling with massive losses and skepticism from investors.<\/p>\n
The change is set to go into effect on Aug. 15, the company said.<\/p>\n
Moviepass announced last week that it was raising its prices from $9.95 per month to $14.95 per month, and introduced a controversial “surge pricing” model which would see the service tack on extra fees for certain, popular movies.<\/p>\n
Under the latest revision of their pricing plan, the surge pricing and the monthly subscription price hike have been dropped after proving unpopular with customers.<\/p>\n
“Any industry-wide disruption like MoviePass requires a tremendous amount of testing, pivoting, and learning,” CEO Mitch Lowe said in a statement.<\/p>\n
Ted Farnsworth, chairman and CEO of MoviePass parent company Helios and Matheson added that while most Moviepass customers do not see more than three movies a month on average, that a small number of heavy users had been “stressing the system.”<\/p>\n
“We believe this new business model will immediately reduce our burn so we can refocus our efforts where they belong,” Farnsworth said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"
(CelebrityAccess) — MoviePass announced another major revision of its business model on Monday when they drastically cut back the number of movies its users could see in a month to just three. The subscription service had previously allowed its users to see one movie a day with certain restrictions but has been battling with massive<\/p>\n","protected":false},"author":12,"featured_media":50554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_stc_notifier_status":"sent","_stc_notifier_sent_time":"2018-08-06 15:45:31","_stc_notifier_request":false,"_stc_notifier_prevent":false,"_stc_subscriber_keywords":"","_stc_subscriber_search_areas":"","footnotes":""},"categories":[75,22],"tags":[2215],"class_list":["post-51152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-industry_news","tag-moviepass"],"acf":[],"yoast_head":"\n
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