On the 24th of January 2019, Variety had conducted an interview with the Executive Vice President of MoviePass – Khalid Itum. In this interview Itum mentioned about the launch of a new monthly subscription plan; wherein you would be able to watch unlimited number of movies.
Next week, Itum said MoviePass plans to reintroduce some sort of unlimited program; this basically would enable users to see as many movies as they wanted each month. He did not reveal pricing for that plan.
More information about the MoviePass 2.0 –
As Variety mentioned, we could refer to this motive as MoviePass 2.0. It may be hard to remember, but MoviePass or MoviePass.com once offered a relatively straightforward value proposition; for a monthly subscription fee, you could watch as many movies as you want. Now it sounds like a version of that plan is coming back.
Apparently, Itum didn’t offer any details beyond saying that some version of the unlimited plan; allowing subscribers to watch as many movies as they want each month.
Itum says the following in his interview –
“It’s a tribute to our friends in exhibition. We’re saying that the best place to see a movie is a movie theater. That’s means getting off your couch and going to one. That’s sort of a story of human triumph fulfilled, as well as a story of our company fulfilling our promise to you as a consumer.”
In addition, Itum said efforts to rehabilitate MoviePass’ image are starting to pay off; as the company is starting to regain subscribers.
“I feel like we’re turning a corner,” he said.
More Insight –
The Past Problem –
The beleaguered ticketing service is trying to shake off its troubled image as a subscription company in a perpetual state of chaos and near collapse; with a new marketing campaign and a fresh array of offerings that are being rolled out this month. The campaign, which includes print ads and a billboard in Times Square; contains images of enraptured moviegoers staring up at a big screen alongside the tagline “let’s go to the movies.”
t was a promise that Itum and his team acknowledge MoviePass frequently failed to keep. As the service struggled to stay solvent, it kept changing its offering. When MoviePass slashed its price to $9.99 a month for a plan that let customers see as many movies as they wanted, the company attracted millions of subscribers. But the offer was too good to be true, and MoviePass kept adding new restrictions and pricing plans, frustrating its users.
The Solution –
The company believes it has found a break-even model that will allow it to improve its service and continue to operate. This month, MoviePass introduced a new series of plans, which vary in price depending on location. In the middle of the country, where tickets are cheaper, a monthly deal stars at $9.95 and allows customers to see three movies per month at some point during their theatrical run. That plan has been christened “select.”
The most expensive plan, known as “red carpet,” costs $19.95 lets people see any three movies of their choosing at any time and in IMAX, 3D, and other premium formats. In major cities, where tickets are more expensive, costs range from $14.95 for the “select” plan to $24.95 for the “red carpet” package.
Itum said MoviePass is no longer pursuing other business models; where it makes money by taking a cut of concessions or getting a discount on tickets. It is, however, still working on a “red label” solution where theaters can create their own subscription plans.