Here we go again, I got another one of those update emails from MoviePass CEO. This is the latest MoviePass update and it is changing it’s service yet again. This time they say it is for good, I have my doubts. In this MoviePass Update it will significantly limit which films its customers can see on any given day.
The letter the company began sending out today said that as it transitions to the new subscription plan it began imposing yesterday — limiting monthly subscribers to just three films per month — it will offer a limited selection of movies and showtimes each day. “During this transition period, MoviePass will offer up to six films to choose from daily, including a selection of major studio first-run films and independent releases,” said the letter. “In addition, showtime availability may be limited depending on the popularity of those films on the app that particular day.”
You can see what films are available on MoviePass’ website and the company says it will publish its daily lists at least a week in advance. The schedules available now, which run through August 26th, list seven movie options each day but the site notes that all movie titles, not just the limited selection, are available at e-ticketing locations.
Darth Lowe’s Quote On The Latest MoviePass Update
When we called MoviePass CEO Mitch Lowe about the Latest MoviePass update, his only response was “ I have altered the deal, pray I don’t alter it any further”. OK then… This deal is getting worse all the time. Whilst I know there is a big transition to be made to salvage this service I have become addicted to, MP seems to just be cutting any reasonable reason to keep the service. Making it only appealing to indie movie lovers that frequently visit the theater. It’s unfortunate but where I live any Wes Anderson movie is considered indie and can barely get a screen.
Wall Street has largely pulled the plug on the company, which in late July attempted to increase its price. They are trying to avert being delisted from the Nasdaq with a reverse 250-to-1 stock split. The unshuted plummet continues anyways. The shares at close Thursday down 6.5 percent at 3 cents. Earlier this week, shareholders of MoviePass’ parent company Helios and Matheson Analytics filed a lawsuit against the company claiming “there was no reasonable basis to even imply that the MoviePass business model could lead to profitability.”
The Final Thought
Much like me you are very disappointed by this latest MoviePass Update and have decided to cancel your subscription. You think let them work out the issues and come back when they are ready for you right? Wrong. I was greeted with a new lovely message. This is informing me that if I cancel I will not be able to resubscribe for 9 months. In 9 Months the next MoviePass like subscription, impregnated by MoviePass itself, will be ready for birth. Make sense soon MoviePass, The Emperor will not be as forgiving as I am.
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