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MoviePass Drops Plan for Price Hike

MoviePass Drops Plan for Price Hike

Updated: August 06, 2018 11:03 AM

NEW YORK (AP) - MoviePass, a discount service for movie tickets at theaters, is walking back a planned 50 percent price increase following a subscriber backlash. But it will soon impose a cap of three movies per month, instead of one every day.

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The company says the new plan will include "many major studio first-run films." It's not immediately clear whether MoviePass is completely rescinding a recent policy of barring viewings of most major releases during the first two weeks.

MoviePass has grown to 3 million subscribers, from about 20,000, since it slashed monthly rates nearly a year ago to $10, from as high as $50.

Because MoviePass typically pays theaters the full cost of tickets - $15 or more in big cities - a single movie can put the service in the red.

Copyright 2018 The Associated Press. All rights reserved.

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