That was quick.
Less than three weeks after switching up its subscription service plan, MoviePass will once again allow customers to see one movie per day as a part of its monthly subscription service, according to Variety.
MoviePass now has two available plans. The MoviePass Unlimited plan offers subscribers a new movie every day for $9.95 per month. Theres also the limited-time MoviePass plan that costs $7.95 per month and offers users three movies a month along with an extended free three-month trial of iHeartRadio All-Access.
Customers will be billed monthly for both plans.
The popular plan was changed on April 13 when the company announced a new $29.95 three-month-plan that gave users four movies a month and a free trial to iHeartRadios All-Access streaming package.
The change made subscribers and critics alike think the company was running out of money.
Last week, MoviePass CEO Mitch Lowe told The Hollywood Reporter that he was unsure the unlimited service would ever return.
But in a new interview, Lowe told Variety the plan was never to stop selling the unlimited package.
We never planned to abandon the flagship product that everybody loves, he said. Any time weve done a promotional package, weve taken the monthly plan off our site.
Lowe said the unlimited package was stopped because he didnt want to hinder the iHeartRadio promotion.
Its marketing 101, he said, according to Variety. We wanted to focus everybody on this partnership promotion. If people knew the (movie-a-day) plan was coming back, they might not be interested in the iHeartRadio deal.
MoviePass business model has remained in question since the company became popular last fall. AMC Theatres called the service a small-fringe player, saying the company could never hold up with its low prices.
According to Variety, Lowe said he isnt worried about the direction of the company. He said he feels MoviePass will make money by using data obtained from customers something hes talked about before, to much controversy to run ads that help the business.
Thats just really relative to how much cash we have at any one time in the bank, Lowe said. We have a constantly evolving business model. Were getting more and more occasional moviegoers and cutting back on fraud and abuse. I feel very confident about our trend lines and I know were going to continue as a going concern and continue to be popular.
In February, the marketing and data company Helios and Matheson Analytics announced that it bought even more stock in MoviePass, bringing its total stock to 78 percent.
The increased stock will help HMNY support MoviePass' working capital and operational requirements, as well as to support the expansion of MoviePass' business plans and objectives, according to the press release.
HMNY said it has advanced $45,545,000 to MoviePass.
Less than three weeks after switching up its subscription service plan, MoviePass will once again allow customers to see one movie per day as a part of its monthly subscription service, according to Variety.
MoviePass now has two available plans. The MoviePass Unlimited plan offers subscribers a new movie every day for $9.95 per month. Theres also the limited-time MoviePass plan that costs $7.95 per month and offers users three movies a month along with an extended free three-month trial of iHeartRadio All-Access.
Customers will be billed monthly for both plans.
The popular plan was changed on April 13 when the company announced a new $29.95 three-month-plan that gave users four movies a month and a free trial to iHeartRadios All-Access streaming package.
The change made subscribers and critics alike think the company was running out of money.
Last week, MoviePass CEO Mitch Lowe told The Hollywood Reporter that he was unsure the unlimited service would ever return.
But in a new interview, Lowe told Variety the plan was never to stop selling the unlimited package.
We never planned to abandon the flagship product that everybody loves, he said. Any time weve done a promotional package, weve taken the monthly plan off our site.
Lowe said the unlimited package was stopped because he didnt want to hinder the iHeartRadio promotion.
Its marketing 101, he said, according to Variety. We wanted to focus everybody on this partnership promotion. If people knew the (movie-a-day) plan was coming back, they might not be interested in the iHeartRadio deal.
MoviePass business model has remained in question since the company became popular last fall. AMC Theatres called the service a small-fringe player, saying the company could never hold up with its low prices.
According to Variety, Lowe said he isnt worried about the direction of the company. He said he feels MoviePass will make money by using data obtained from customers something hes talked about before, to much controversy to run ads that help the business.
Thats just really relative to how much cash we have at any one time in the bank, Lowe said. We have a constantly evolving business model. Were getting more and more occasional moviegoers and cutting back on fraud and abuse. I feel very confident about our trend lines and I know were going to continue as a going concern and continue to be popular.
In February, the marketing and data company Helios and Matheson Analytics announced that it bought even more stock in MoviePass, bringing its total stock to 78 percent.
The increased stock will help HMNY support MoviePass' working capital and operational requirements, as well as to support the expansion of MoviePass' business plans and objectives, according to the press release.
HMNY said it has advanced $45,545,000 to MoviePass.