Now, users will be able to enjoy three movies per month, with limited restrictions on releases, for the same $9.95 that previously got them all of the movies they wanted to see.
MoviePass has been a disruptive force for theaters—and, increasingly, for its own users, who’ve been bedeviled by disappearing screening times and foiled check-in attempts while at the theater.
Its stock dropped to 10 cents a share last Thursday, after apparently burning through a short-term, $5 million loan it took out a week before.
Any Day.”—got dismissed days earlier as it announced that it would no longer provide tickets to widely-distributed studio films in their first two weeks of release, and that it would be curating which showtimes were available to users.
Analysts suspect that the company’s future prospects should be measured in weeks, not months.
And given the company’s recent woes, investors are unlikely to be convinced that only MoviePass can stop movie theaters from charging “exorbitant prices for theater tickets” and “overpriced concessions”—even as MoviePass trots out the well-worn tactic of invoking an Uber comparison when it says the theater industry is displaying “exactly the attitude the taxicab industry took when Uber entered the market.”