If you thought you had a bad case of the Mondays yesterday, you may not have noticed all the negative publicity MoviePass was getting. Throughout a good chunk of yesterday, the subscription service was trending on Twitter, and it was all pretty sad stuff. As we reported, there were many instances of users being unable to actually purchase tickets through the app.
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In short, MoviePass kind of blacked out yesterday, prompting some users to cancel their subscriptions. Given that both of their Twitter accounts went radio silent, it seemed like the end was near for the grand experiment. Well, not so fast. In a new press release from the company, they finally acknowledged the problem and stated their desire to implement changes that will allow them to grow and eventually turn a profit. Here are some of the changes you can expect:
–A future increase of the standard pricing plan to $14.95 per month within the next 30 days.
–First Run Movies opening on 1,000+ Screens to be limited in their availability during the first two weeks, unless made available on a promotional basis. A conditional detail like this will truly make its subscribers head over to AMC Stubs A-List. Why even have MoviePass now that it can’t cover popular movies at the box office? The company’s press release this morning acknowledged that they shut down ticket buys for Mission Impossible – Fallout over the weekend, “the first film included in the measure. This is a strategic move by the company to both limit cash burn and stay loyal to its mission to empower the smaller artistic film communities. Major studios will continue to be able to partner with MoviePass to promote their first run films, seeding them with a valuable moviegoing audience.”
–Implementation of additional tactics to prevent abuse of the MoviePass service.
Furthermore, MoviePass CEO Mitch Lowe made the following statement:
“These changes are meant to protect the longevity of our company and prevent abuse of the service. While no one likes change, these are essential steps to continue providing the most attractive subscription service in the industry. Our community has shown an immense amount of enthusiasm over the past year, and we trust that they will continue to share our vision to reinvigorate the movie industry.”
Do you think they’ll be able to turn it around? Let us know down below!
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