No price hike, but new caps on MoviePass discount tix plan
NEW YORK (AP) -- MoviePass, a discount service for movie tickets at theaters, is walking back a planned 50 percent price increase following a subscriber backlash. But it will soon impose a cap of three movies per month, instead of one every day.
The company says the new plan will include "many major studio first-run films." It's not immediately clear whether MoviePass is completely rescinding a recent policy of barring viewings of most major releases during the first two weeks.
MoviePass has grown to 3 million subscribers, from about 20,000, since it slashed monthly rates nearly a year ago to $10, from as high as $50.
Because MoviePass typically pays theaters the full cost of tickets -- $15 or more in big cities -- a single movie can put the service in the red.
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.