MoviePass Is Back
MoviePass is back thanks to MoviePass co-founder Stacy Spikes, who was fired from the company in 2018 for questioning the sustainability of its business model. "Under the company's new points-based system, you can pay $10 per month to watch one to three movies at any of the 4,000 participating theaters throughout the US," reports The Verge. From the report: In addition to the $10 / month Basic plan, MoviePass offers three more expensive subscription options: a $20 / month Standard plan for three to seven movies per month, a $30 / month Premium plan for five to 11 movies per month, and a $40 / month Pro for up to 30 movies per month. There's a separate, more expensive subscription for customers in Southern California and the New York metro area. The reason why each tier includes a range of movies you can watch has to do with the way MoviePass' new credits system works. Every tier offers a different number of credits that you can redeem on movies each month, with Basic having the least number of credits and the Pro plan having the most.
According to MoviePass, a film's credit value can fluctuate depending on a number of factors, including the time of day and day of the week you want to watch it. Based on tweets from customers who tested the service, credit costs have changed without warning and can vary significantly across showings. If you don't use up all your credits, MoviePass says it will roll them over to the next month, allowing you to have a maximum of two months' worth of unused credits in your account to use at a later date. Once you sign up for the service, you'll receive a MoviePass card within 10 to 15 business days that you'll need to use at supported theaters. The sustainability of MoviePass started to crumble in 2017 when it began offering customers unlimited movie-watching for just $9.95 per month. The seemingly too-good-to-be-true pricing ultimately resulted in the company's bankruptcy two years later.
Additionally, the Securities and Exchange Commission (SEC) filed a lawsuit against MoviePass, alleging that the company had misled investors about the viability of its business model.
Read more of this story at Slashdot.