MoviePass Is Cutting Its Prices Again
From the very second MoviePass cut down its monthly subscription rate to $9.95, the company has been a huge topic of conversation among the movie-going community. Theaters argue that MoviePass is taking away from the theater-going experience, while others argue that MoviePass can't sustain itself based on its business model. Regardless, MoviePass has not slowed down, and if critics were concerned before, they must be flabberghasted right now. MoviePass has once again lowered its subscription rate in a limited time offer of $7.95 a month, plus a free subscription to the Fandor streaming service.
MoviePass has announced a new limited time offer of $7.95 a month to see one movie a week for its consumers. MoviePass CEO Mitch Lowe told The Hollywood Reporter that they haven't decided when the offer will expire (which seems a bit underhanded to me) and that they are "constantly experimenting" and "having fun." The limited offer comes with a $19.95 "processing fee" that brings the one-year total to $115.35, which customers must pay for up front. Essentially, you are paying for the whole year, as opposed to the month by month basis of a typical MoviePass offer.
In addition to the cheaper rate, the offer also includes a one-year subscription to the streaming service Fandor. As opposed to Netflix or Hulu, which take a broader approach to what movies they offer, Fandor's niche is that its library is full of indie movies. This includes foreign language films, so this service is really more for hardcore film buffs. Jared Leto is Fandor's chief creative officer, so, you get the idea.
This announcement comes on the heels of MoviePass cancelling the subscriptions of several customers who were accused of abusing the service. The cancellations happened to customers who used MoviePass to pay down the cost of seeing Fathom Events or Imax content, which is against the terms of the service of use. Some of these users took to the internet to complain and claimed their accounts were expelled because they were seeing too many movies.
MoviePass recently reached two million subscribers and one would wager that this new promo will attract even more customers to the platform. However, this does raise a genuine question of how MoviePass can sustain itself when it is responsible for 5% of the national box office, according to the company. Some believe that MoviePass will eventually begin selling customer data to make up the difference on the money it loses on customers who use the service too much. MoviePass continues to be a major topic of conversation, and we'll be keeping a close eye on the company to see how it continues to develop. So, stick with CinemaBlend and we'll keep you updated on new information as soon as it becomes available.