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CEO Doesn't Know if MoviePass Will Offer a Movie Per Day Plan Again (engadget.com)
The subscription service famous for supplying a movie ticket per day for just $9.95 a month hasn't been offering that wildly popular package since April 13. From a report: The company's too-good-to-be-true offer of one movie per day for $10 subscription model brought it 500,000 subscribers in one month, but MoviePass' finances show that the startup is struggling while still being dogged by its CEO's comments around tracking his customers. Recently, the company downgraded its available new subscriber plans to a three-month, $30 "limited time" offer that includes four movies per month and a three-month trial of iHeartRadio premium. It seems as if this offer now has no limit; CEO Mitch Lowe told The Hollywood Reporter that he was unsure if the movie-per-day plan would even return as an option. "Do you think you will go back to a movie a day?" a THR reporter asked Lowe at CinemaCon in Las Vegas. "I don't know," he responded.
if I recall their business model is just plain stupid... take $10 a month from users... pay a $10 movie ticket for them up to 30 times a month out of pocket. In the hopes that the movie theatres are happy with the increased business and possibly set up an arrangement that isn't them losing 30x what they make. To me it's a pretty silly business model.