MoviePass has capped its plan for new subscribers at 4 movies a month — and its CEO doesn't know if the old plan will return

  • According to The Hollywood Reporter, MoviePass CEO Mitch Lowe said he didn't know if the company's movie-a-day subscription plan would ever return.
  • Currently, MoviePass only offers new customers a three-month bundle with iHeartRadio for $29.85 a month, which includes four movies in theaters (per month) and a free trial of iHeartRadio All Access.
  • MoviePass' subscriber base drastically increased after the company lowered the price to $9.95 a month for a movie-a-day plan, but the company's ability to stay in business has been called into question recently.

 

When MoviePass lowered its price in August to $9.95 a month to see one movie per day in theaters, it seemed too good to be true. Now, that plan is no longer available for new subscribers, and the company's CEO doesn't know if it will ever return. 

MoviePass CEO Mitch Lowe told The Hollywood Reporter, "I don't know," when asked whether the service will ever go back to the movie-a-day model.

10 PHOTOS
10 highest-grossing movies of 2017
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10 highest-grossing movies of 2017

10. “Justice League” — $635.9 million

For all the bashing the movie took from critics and the fans, this latest DC Comics movie was able to crack the top 10 (let’s check in a couple of weeks to see if “The Last Jedi” ruins the party). It’s the worst performer of any of the DC releases to date, but on the bright side, it likely won’t lose $100 million for Warner Bros. 

9. “It” — $697.5 million

Domestic: $327.4 million

WB couldn’t be more happy with how this adaptation of Stephen King’s book, made on a $35 million budget, performed at the box office. And it was a hit internationally, where horrors usually don’t do as strong.

8. “Pirates of the Caribbean: Dead Men Tell No Tales” — $794.8 million

Domestic: $172.5 million

People in the US may have had enough of the “Pirates” franchise, but it’s still working overseas. So expect more.

7. "Wonder Woman" $821.8 million

Domestic: $412.5 million

It’s Warner Bros. crowning moment so far with its DC Comics franchise. The movie wasn’t just great, it was a beacon for the female empowerment movement going on in the country.

6. “Thor: Ragnarok” — $841.8 million

Domestic: $306.3 million

Marvel did a major pivot with the “Thor” movies and it worked. The wacky feel, lead by its director Taika Waititi, gave a spike in business to one of the few Marvel characters whose standalone movies were getting stale.

5. “Guardians of the Galaxy Vol. 2” — $863.5 million

Domestic: $389.8 million

This Marvel title, on the other hand, didn’t need any changes at all. This sequel to the overachieving original movie came back with more fun and sweet needle drops.

4. “Spider-Man: Homecoming” — $880.1 million

Domestic: $334.2 million

Sony teamed with Marvel Studios for its latest relaunch of Spidey and it was a masterful move. The inclusion of Tony Stark led to a light-hearted story and the franchise’s new Peter Parker, Tom Holland, did the rest with his charm.

3. “Despicable Me 3” — $1.03 billion

Domestic: $264.5 million

It wasn’t a great year for animated releases compared to the past couple. This is the only one that really knocked it out of the park around the world. Expect Universal and Illumination to call on Steve Carell to do more (and more Minions movies, too).

2. “The Fate of the Furious” — $1.23 billion

Domestic: $225.7 million

Not even infighting among the enormous stars of this franchise can stop its money making potential. It's pretty much bulletproof overseas, where the movie made $1 billion!

1. “Beauty and the Beast” — $1.26 billion

Domestic: $504 million

Disney’s process of doing live-action versions of its animated classics is going smoothly. 2016’s “Jungle Book” almost hit the $1 billion mark worldwide ($966.5 million) and “Beauty and the Beast” did this year. On deck: “Lion King.”

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The MoviePass offer available to new subscribers since April 13 has been a three-month bundle with iHeartRadio that includes four movies a month in theaters, along with a three-month trial of iHeartRadio All Access. That costs $29.85 for the three months, and will continue to be billed at that rate every quarter.

MoviePass has characterized this as a temporary promotion, but Lowe's response to THR suggests that it's the iHeartRadio part that might be temporary, not the limit of four movies a month.

This is not the first change for the subscription plan, as MoviePass continues to try and increase its subscriber base. In March, MoviePass offered a temporary annual plan for new subscribers that worked out to $7.50 a month for the first year. But in this instance, MoviePass users could still see a movie a day.

A potential change in strategy might be because of MoviePass' financial situation. In February, MoviePass hit 2 million subscribers, but the company recently disclosed it was losing money on every subscriber. And earlier this month, the auditor for MoviePass' owner, Helios & Matheson, raised concerns about the company's ability to stay in business for the next year.

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