MoviePass Limiting Subscribers To 3 Movies Per Month

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In an effort to slow the cash bleed, MoviePass announced soon after that it was raising the subscription fee to $14.95 a month, adding surcharges to certain popular movies, and blocking customers from seeing new movies during their first two weeks of release.

MoviePass, the financially troubled movie subscription service, is limiting screenings to three a month, the service announced Monday.

MoviePass's death walk/path to profitability continues apace.

The company will keep the monthly subscription price at $9.95.

MoviePass chief executive Mitch Lowe told The Wall Street Journal that 85 percent of the app's 3 million subscribers already see three or fewer movies a month. Instead, their full subscription will entitle them to no more than three trips past the velvet rope - the same number of theater visits previously offered under the company's bargain $7.95 per-month plan. Last week, the company said it would raise the price of its plan from $10 to $15 per month, but that's no longer the case. The planned changes will go into effect on August 15-assuming they don't make any more changes like, you know, tomorrow.

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Peak Pricing and Ticket Verification policies are also being suspended. "While most of our loyal subscribers shared the passion for this new accessible movie experience and experimented fairly, the fact is that a small number have used our business model to a point where it was compromising the business' long-term stability".

For example, if a MoviePass user wants to see the "Aquaman" movie this winter they should be able to see it at MoviePass-compliant theaters on opening weekend, with none of the issues that plagued the service during the opening of the latest "Mission: Impossible" film.

The embattled MoviePass is taking out all the stops to survive. It later said it paid back that loan.

Early Monday morning, Moviepass announced that it's killing the unlimited movie plan that saw it rocket to fame and financial ruin.

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