It has been a rocky year for MoviePass, something that CEO Mitch Lowe acknowledged in an interview this week with…
It has been a rocky year for MoviePass, something that CEO Mitch Lowe acknowledged in an interview this week with Variety.
“We have much to prove for all of our constituents,” said Lowe. “We do not just have to prove ourselves to our members, we must also prove ourselves to the investment community, our employees and our partners. We believe we will do everything we can to deliver a good service and we are working to fix all things which went wrong. “
Therefore, the company is launching a new pricing structure that will come into force in January. If you like to pay $ 9.95, do not worry: You can still do it (at least in some geographic areas). However, if you are willing to pay a little more, you will no longer be limited by the ever-changing list of movies that MoviePass supports on a particular day.
So there are now three levels, each of which offers three movie tickets each month. There is Select, which costs between 9.95 and 1
4.95 dollars per month (depending on geography) and allows viewers to watch some movies on certain days. All Access, which costs between $ 14.95 and $ 19.95 and allows you to go to any standard screening; and Red Carpet, which costs between $ 19.95 and $ 24.95 and includes an IMAX, 3D or other large format screening every month.
The company says that this new structure makes it possible to break the tickets sold – an important step
MoviePass fans are likely to remember that the company appeared to be out of money during the summer, which led to the fact that announced a price increase, just to return from the price increase to add restrictions on how many movies and what movies subscribers could see.
At the same time, the law firm in New York stated that it investigated MoviePass for possible securities fraud, and the parent company Helios and Matheson said it would spin MoviePass in a separate company. (TechCrunch’s parent company has a share in MoviePass.)
The competition is growing. And the App Store intelligence company Sensor Tower says that MoviePass only added 12,000 new users to its mobile app last month, down 97 percent from the growth it saw at its highest point in January.
In addition to reviewing its pricing, MoviePass also makes organizational changes. The company told the New York Times that although Lowe will remain CEO, he will surrender responsibility for day-to-day operations to Vice President Khalid Itum.