MoviePass is raising prices and limiting the movies subscribers can see

MoviePass is raising its price

The jump came after MoviePass announced plans to increase the price of its standard plan from $9.95 per month to $14.95 per month. They include jacking up the prices from the popular $9.99 to $14.95 per month over the next 30 days, as well as limiting access to almost all Hollywood blockbusters within their first two weeks of release.

"These changes are meant to protect the longevity of our company and prevent abuse of the service", MoviePass CEO Mitch Lowe said in the press release. MoviePass last week had blamed this on technical issues, but a subsequent SEC filing revealed that the real reason why members using the card were stranded at the box office had to do with the lack of cash in the company's bank accounts. After announcing it will be drastically limiting which movies you can see with MoviePass and drastically reducing the number of theaters that are supported, how about a price hike?

The drama surrounding MoviePass continues to unfold, but this subscription-based service isn't dead yet.

Actions that have been implemented are now cutting the monthly burn by 60%. This is no different than other in-home streaming options that often don't carry the latest shows or movies that may be available on other services.

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The changes are supposed to help MoviePass parent company Helios and Matheson reduce the amount of cash flowing out of its doors every day, since the losses are posing an existential threat to the company.

MoviePass said the change was being made "in an effort to maintain the integrity of the MoviePass mission, to enhance discovery and to drive attendance to smaller films and bolster the independent film community". While no one likes change, these are essential steps to continue providing the most attractive subscription service in the industry. Before that, MoviePass could cost anywhere from $15 to $50 a month depending on a customer's plan or region. During the launch weekend of Mission: Impossible - Fallout, many MoviePass subscribers discovered they couldn't use their subscription service to watch the movie. It got a lot of folks out to see more movies in theaters, which is a very good thing, but then of course you have to find a way to make sure the company can also stay in business.

MoviePass is also facing competition from AMC Theatres, which has introduced its own subscription service called AMC Stubs A-List.

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