It was a rocky year for MoviePass, which CEO Mitch Lowe acknowledged this week in an interview with Variety.
"We have a lot to prove to all our members," Lowe said. "We not only have to prove ourselves to our members, but also to the investment community, our employees and our partners. We believe we are doing everything we can to provide excellent service, and we are in the process of correcting all the things that went wrong. "
To this end, the company is introducing a new pricing structure that will do so in January. If you like to pay $ 9.95, do not worry: you can still do this (at least in some regions). On the other hand, if you're prepared to pay a little more, you're no longer restricted by the ever-changing list of movies that MoviePass supports on a given day.
There are now three levels, each offering three movie tickets every three months. There is Select, which costs between $ 9.95 and $ 1
The company says this new structure will allow it to break even on the tickets it sells
MoviePass fans will probably remember that the company apparently ran out of money in the summer announced a price increase and withdrew from the price increase in favor of additional restrictions how many films and which films subscribers could see.
Meanwhile, the New York Attorney General said that MoviePass was under investigation for potential fraud, and parent companies Helios and Matheson said MoviePass would be converted into a separate corporation. (The parent company of TechCrunch is involved in MoviePass.)
The competition is increasing. MoviePass added just 12,000 new users to its mobile app last month, according to App Store intelligence firm Sensor Tower. That's a 97 percent decline from the growth he made at organizational changes in January. The company told the New York Times that although Lowe will remain CEO, he will hand over responsibility for day-to-day business to Executive Vice President Khalid Itum.