MoviePass might be saying a permanent goodbye to its monthly $9.95 subscription for one movie ticket per day.
The bundle hasn’t been offered since April 13, when the subscription service decided to change it to just four tickets a month. That offering, which also includes iHeartRadio All Access (normally $9.99 a month), has been considered a “promotion” available for a limited time.
“Do you think you will go back to a movie a day?” THR asked Lowe at CinemaCon in Las Vegas on Wednesday (April 25).
“I don’t know,” he responded.
Just a few months ago, Lowe said there were no plans to change the service. However, the company says that 88 percent of MoviePass subscribers see fewer than two movies per month, so taking away the one ticket per day option would only affect 12 percent of its users.
MoviePass lowered its subscription fee from $50 a month to $9.95 in August, which helped its subscription base grow from 20,000 users to more than two million. Ted Farnsworth, the CEO of parent company Helios and Matheson Analytics, even called it “the fastest-growing company in the history of the internet.”
And a month ago, MoviePass said it would have five million users by the end of the year, while Lowe has maintained that MoviePass could be profitable — even though it pays full price for 94 percent of the movie tickets its subscribers uses. That profitability, however, might be harder to come by if the company continues to pay around $8.97 per ticket and allows users 30 tickets a month.
“We just always try different things,” Lowe said. “Every time we try a new promotion, we never put a deadline on it.”
In February, for example, the company announced that it was partnering with streaming service Fandor to offer customers a discounted subscription option for a limited-time offer, which includes a one-year MoviePass and Fandor subscription for less than $116 per year.