MoviePass Limiting Subscribers To 3 Movies Per Month

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Citing community response, a desire to create a "sustainable business model", and combatting a small number of users viewing "a disproportionately large number of movies" as the reasons for its decision, MoviePass - which now allows customers to see one theatrical release per day for a monthly price - confirmed Monday it will not increase its recurring fee to $14.95 per month.

The company says the new plan will include "many major studio first-run films".

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That represents a sharp reduction from the current limit of one movie a day, and marks an attempt to stabilize MoviePass' finances after previous attempts, such as "peak pricing" surcharges and an increased monthly fee, met with opposition from users.

Monday's announcement does not specify limitations on titles, though it does confirm the new plan "will include many major studio first-run film" when changes take effect with renewals on or after August 15. Only three films per month will be included in the $9.95 subscription, something MoviePass has until now had a second, cheaper, $7.95 per month plan for. MoviePass did not clarify what will happen to its longest-term, and most loyal annual customers in the interim, nor did it explicitly state the consequences for failing to agree to "transition".

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MoviePass has faced a few challenges in the last couple of weeks.

As part of the new model, the company is also suspending peak pricing and ticket verification. The impact was immediate: the subscriber base has jumped from 20,000 then to over three million today.

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MoviePass CEO Mitch Lowe described the change in an interview earlier Monday with The Wall Street Journal. Its parent company recently had to take out a $5 million emergency loan to pay its payment processors after missed payments resulted in service outages. The stock rose 3 cents to 10 cents per share in early trading Monday, soaring over 45 percent on the new plan news.

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