MoviePass will raise prices to $15 a month while limiting access to blockbuster films ~ The Tech News

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Tuesday 31 July 2018

MoviePass will raise prices to $15 a month while limiting access to blockbuster films

AppyBro07:45No comments

Yesterday, MoviePass CEO Mitch Lowe reportedly called an all-hands in which he informed employees of plans to further limit access to blockbuster boys. The policy, which started with Mission: Impossible — Fallout this week3end, was set to extend to upcoming big releases, Christopher Robin and The Meg. The report arrived as the service was experiencing yet another outage.

Today, the company confirmed plans to continue its policy of limiting ticket availability to top films, acknowledging the tremendous cash burn the company has experienced since launching its subscription service nearly a year ago.

The company doesn’t mention specific upcoming films by name, but notes that first run films opening on more than 1,000 screen will be limited in their first two weeks, unless a studio opts to work with MoviePass for promotional purposes.

“In an effort to maintain the integrity of the MoviePass mission, to enhance discovery, and to drive attendance to smaller films and bolster the independent film community, MoviePass will begin to limit ticket availability to Blockbuster films,” the company writes. “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.”

In addition to those limitations, the startup will be increasing the cost of its monthly pass from $9.95 to $14.95 a month. That rate jump will be rolling out some time in the next 30 days, according to the company.

Developing…

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