MoviePass has finally made a move to bring back subscribers, and it’s actually not a bad deal – Only problem, is rolling out a “Red Carpet” level plan to little and WAY too late at this stage in the game?
Emails went out this week in time for late Christmas shoppers to gift their favorite moviegoer a 3 Month, 6 Month, and/or Annual MoviePass membership. What’s different this time? Well, MP hopes to correct their money hemorrhage issue by upping the pricing as an effort to restore a semblance of their former glory. See below:
- The bottom rung (called MoviePass Select) offers what they call a “curated selection” of movies from theaters in their network. Almost no one will want this as the current bottom tier subscription offers this and we at Play Your Way Network, HATE IT. Consider this: you still get 3 movies per month but NOW they tell you what you can and cannot see. Meaning you pay them to waste your money, then you have pay to see what you want. I thought this was supposed to be a money saver!? Basically, throwing $15 in a blender with kale, pineapple, orange juice and splash of coconut water would be both more entertaining and refreshing.
- The next Tier is called “All Access” and is REALLY just the classic MoviePass package of 3 movies/month and all standard 2D showings are up to bat (within the network) with no repeat viewings. Expect to pay $20/month for this one.
- The difference maker is the ‘Red Carpet” package. You get the same 3 movies, but now you get at least one IMAX 3D or REAL D 3D showing per month. Coming in at $25/month, if MoviePass is your thing – you might as well go with this one for just $5 more per month.
CAN THIS SAVE MOVIEPASS??
In fourth quarter of 2017, MoviePass was riding high on it’s promise of a movie a day for less than $10 per month with a stock price valued over $1500/share (at this exact time last year). Fast forward to today, where the aforementioned promise has been reneged upon and the public has rewarded Helios and Matheson Analytics Inc. (parent company of MoviePass) with a dismal value of $0.16/share and falling at the time of this article. So if we were betting folding money, it’s too tough of a call.
THE BOTTOM LINE:
The packages just don’t offer much. For perspective, if you go the discount ticket route yourself (which is basically how MoviePass can offer this), your HR Dept at work or even GroupOn can offer you a ticket to a new movie in the key target range (for discount tix) of $6-$12. So even if we are on the high end of that scale, for $12 you can see a movie per month, wherever you want and not over pay when you don’t want to. Keep in mind, the benchmark for the right investment here began at $10/month when movie pass came out. If you are going to roll up to $25/month, you might be better served going with AMC Stubbs, Cinemark’s subcription services or just use cash.
Because sticking with MoviePass is NO LONGER doing movies, The Player Way…