MoviePass Chief Executive Mitch Lowe said in an interview that the new policy, which takes effect August 15, will reduce the company's cash burn rate by more than 60% and make its attempted transition to profitability "more manageable". However, MoviePass claims that only 15 percent of its members actually watch four or more movies per month.
MoviePass was planning to raise the price of its monthly movie-going subscription from $9.95 to $14.95, but is walking that change back.
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 change is part of a new model MoviePass hopes will "ensure long-term stability". As word that the company was operating at a $45 million deficit and counting went public in June, the service began imposing surge pricing making subscribers pay an additional surcharge to see popular films at peak times.
As stock prices and subscriber numbers continue to slip for the subscription service, MoviePass, the online service has announced a new model for subscribers.
Though MoviePass says it's not raising prices to $15, there's still a hidden price increase.
In addition, subscribers to the new plan can also receive up to a $5.00 discount for any additional movie tickets.
The app suffered a minor meltdown last month when Helios & Matheson ran low on cash, causing the app to stop working. Furthermore, peak pricing and ticket verification is being suspended under the new plan.
MoviePass CEO Mitch Lowe blamed the change on the small number of users who were taking advantage of the "unlimited" promise.
Evacuees watch the sunset as smoke from the Ranch Fire rises into the sky at Austin Park Beach in California. The Mendocino Complex Fire is one of over a dozen large fires burning in California at the moment.
Becca asks if she can walk him out, mostly because he would probably walk directly into the ocean if he didn't have a chaperone. She told him, "You have been the most solid, constant relationship and one that I could turn to anytime".
Denver Nuggets basketball team, the Los Angeles Rams American Football team and the Colorado Rapids of Major League Soccer. After news broke of the bid the Arsenal Supporters' Trust (AST) called it a "dreadful day" for the football club.
The company's billionaire founder, Elon Musk, said engineers are also working on ways to recover the Falcon 9's second stage. SpaceX only had a two-hour launch window that opened at 1:18 am EST Tuesday in which to complete the mission.
On Saturday afternoon, Melania Trump also issued a surprising, positive statement about James, but did not reference her husband. Trump has been promoting her Be Best campaign and talking to children about the "importance of responsible online behavior".
Jordan is the greatest basketball player of all time. "And I was like, 'Oh wow, this is all because of sports, '" James said. On Friday night, President Trump responded to a segment of Lemon interviewing LeBron James by insulting their intelligence.
He called on the countries of Europe to join the USA , saying, "The time has come to stop talking; the time has come to do". Iran's rial currency has lost half its value since April under the threat of revived United States sanctions.
Eighteen people have been killed in a horrific helicopter crash after its blades hit cargo hanging off another helicopter. The law enforcers said all the possible versions are under consideration including crew error and the equipment failure.
Tesla boss Elon Musk has shocked the market with a bombshell tweet saying he is mulling taking the electric auto company private. Shares in Tesla were up sharply following the tweet, trading at $363 at the time of writing.
It's hard to tell who instigated the violence, but it appears to be the workers at the nail salon who are dealing the most force. The incident has inflamed racial tensions, and prompted calls for black residents to spend their money elsewhere.
Since 2008, activists from all over the world have sailed 31 boats in attempts to challenge the Israeli naval blockade on Gaza. More than 140 Palestinians have been killed by Israeli forces since the outbreak of the Gaza border protests on March 30.
Acting President Osinbajo Fires DSS DG, Condemns Siege On NASS
Seiyefa, the most senior Director in the Department of State Services (DSS ), will act as Director-General until further notice. Saraki was also expected to meet with Mahmoud Yakubu, chairman of the Independent National Electoral Commission (INEC).
Star witness to take stand for second day in Manafort trial
Manafort?" Those admissions are likely to become a focal point for Manafort's defence team when he is cross examined on Tuesday. Gates testified that Manafort "requested I make wire transfers from the foreign accounts" and that "at Mr.
Council wants to remove Trump star from Walk of Fame
If convicted as charged, Clay could face a possible maximum sentence of three years in jail, prosecutors said. Austin Mikel Clay, 24, is accused of using a pickaxe to smash the smash the memorial on Hollywood Boulevard.
Apple removes most of Alex Jones's podcasts from iTunes
Among the theories he has promoted is that the September 11 , 2001, attacks on NY and Washington were staged by the government . InfoWars editor-at-large Paul Joseph Watson called the move an attack on free speech and conservative media.
'Rogue' extrasolar planetary-mass object detected
SIMP is not small; and is about 12 times larger than Jupiter and has a strong magnetic field, say the astronomers. Zeroing in on this new find could lead to new techniques being developed to help search for alien worlds.
First Look at Margot Robbie as Sharon Tate
DiCaprio plays Rick Dalton, the former star of a western TV series, while Pitt portrays Cliff Booth, his longtime stunt double. The film, which is due for release in 2019, is centred around the "Manson Family" murders of 1969.
Zverev claims 40th win of 2018 to make Citi Open final
Tournament director Keely O'Brien had earlier caused controversy with comments to the Washington Post encouraging Murray to play. When play resumed, Zverev took a second break thanks to a series of errors by Nishikori and closed out the match.
Chelsea To Swoop For Long Term Liverpool Target
Maurizio Sarri has expressed considerable interest in Fekir with Liverpool unlikely to table an offer before deadline day. Henderson played a vital role at the World Cup as he guided England to the semi-finals in Russian Federation last month.