By Nichole Whiteley
Moviepass was originally founded in 2011. The company had originally charged $50 a month, but just last year in 2017 the company lowered its price to only $10 a month causing moviepass to boom! Everyone was crazy about having the movie pass because you got one movie per day at any movie theater, for only $10 a month; a screaming deal. For the customers, this new way to go to the movies was like a new way of life. However, the question remained, how was the Moviepass company making any money, after customers are only going to two movies a month and the company had already lost profit.
The company was losing money fast, and they needed to find a solution. CNN media said, “Previous SEC filings revealed that the company was burning through an average of $21.7 million every month operating MoviePass. In May, it blew through $40 million.” At one point Moviepass needed another $1.2 billion.
This is why not many were surprised when moviepass slowly started to change everything. Their first change was the number of movies. For anyone who bought the pass from then on, only got 4 movies a month, and still for only $10 each month. They had no choice, they were going to lose all of their money. The next change that they made was charging for premium movies. Now, a new or big movie charged you an extra 3-6 dollars. This was still a better deal than not having the movie pass at all, but this change applied to all movie passes. This caused customers to become upset, and second guess if Moviepass was still worth it. Moviepass was changing everything.
Moviepass made a change on August 31, 2018 and everyone is hoping that this will be the final change. Moviepass will now charge $14.95 a month. According to The Verge, “ First-run movies will only be viewable on a limited basis during the first two weeks of release, unless the company has a promotional deal with a given film.” The Moviepass company is not only raising their price, but limiting the number of movies you can see.
Moviepass is not earning any profit, which is what has caused these changes. Will they essentially lose more money due to customers canceling their past purchases because of all of the changes to the unreliable Moviepass? Is it even worth it to purchase a pass anymore? Who knows what the company will change after you buy the pass? Only time will tell. It is up to you whether or not to take the risk.