It feels like every day we have new information regarding MoviePass and their recent shady dealings. Well, we now have more info on how their constantly evolving business model is having a profound effect on subscribers. In a new poll, nearly half of the subscribers claimed they were inclined to cancel the service. Only half, though?
In the new digital age, consumers are trying to navigate a world in which digital VOD services and online streaming juggernauts are utilizing a subscription-based model. This extends to other outsider companies, much like MoviePass and Sinemia. However, are these models stable? MoviePass has shown that depending on your business practices, this type of entertainment might not be as stable as we once hoped.
With many recent flubs in the past couple months, it appears MoviePass won’t last much longer. In an update from the 24th, MoviePass will switch all of the $7.95 and yearly subscription plans to the $9.95 option, with a cap of 3 movies a month; a figure that CEO Mitch Lowe says represents the average number of movies people were seeing with their card. This will give users a perfect opportunity to discontinue their subscription if they so choose. Despite these attempts to curtail their inevitable decline, The Wrap is reporting that in a new poll released by the firm National Research Group, 47% of subscribers are considering a cancellation of services after numerous changes to MoviePass card policy.
In the past three months, Helios and Matheson Analytics, MoviePass’ parent company, has lost 99% of stock value. It’s clear that there was no definitive plan with the company from the start, causing many early supporters to grow skeptical. Many, including our full staff, have cancelled their subscriptions and have shifted to more stable platforms, like the aforementioned Sinemia. It should be noted that I think there is value in a subscription-based service centering around movie theatres. With the decline in theatre attendance, it can be utilized as a way to invest in getting people back in seats and supporting smaller cinema. Maybe after all the fuss surrounding MoviePass dissipates, I will sign up once again, for a third time. That’s right: I had the original plan for a while, at $40 a month before they dropped the price drastically.
What about you? Will you continue to be a monthly subscriber with all of the shifting policies? Let us know in the comments below.