‘I am altering the deal. Pray I don’t alter it any further’

[Mike Mercury]

MoviePass will limit users to just three movies a month starting on August 15th

MoviePass has announced that users will soon be limited to seeing just three movies a month. It’s a major change from the current policy that allows users to see a movie once a day with their subscriptions, via The Wall Street Journal. It’s the latest change to the unlimited moviegoing service as the company desperately tries to stay afloat in the wake of problems like entirely running out of money at the end of July.

The new plan undoes some of the changes that MoviePass announced last week, including the $14.95 price increase and surge pricing. Instead, users on the new plan will be able to continue paying $9.95 per month, although they’ll be limited to just three movies (something that MoviePass previously offered for $7.95).

The new plan goes into effect on August 15th. Monthly subscribers will have the chance to subscribe to the new plan after that date when their current monthly subscription expires, while annual subscribers will be able to keep their existing plan until they’re up for renewal. However, it seems that only subscribers to the new, three-movie-a-month plan will be exempt from MoviePass’ surge pricing and ticket-verification policies.

Also sticking around are the added limitations to seeing newly released movies during the first two weeks of the theatrical run (unless the movie has a promotional deal with MoviePass). That started most prominently two weekends ago with the release of Mission: Impossible — Fallout. Users who are interested in seeing the latest films in theaters right at release will still likely be out of luck with MoviePass going forward.

https://www.theverge.com/2018/8/6/17655528/moviepass-three-movies-per-month-new-plan-subscription-august-15th

[Bill]

I could never understand how this business model made any sense.

"We lose a dollar on every widget we sell, but it's OK, we make up for it in volume."

The only thing I can think of is they are trying to recreate the health club model....sell memberships and just hope that people don't actually show up and use the facilities.

[mrvette]

I could care LESS over the entire industry......last movie I saw in a theater was ~18 years ago....maybe more 19......

:seasix:

[NCC-1701]

I could care LESS over the entire industry......last movie I saw in a theater was ~18 years ago....maybe more 19......

:seasix:

I got you beat I have not been to a movie theater since I stopped working off duty details at the movie theaters and that's been around 25 years ago and counting. Between the talking the cell phones and the pot smoking I don't need to get into any fights at this point.

[NCC-1701]

Plus I don't want to contribute one cent to the actors or the movie industry. Fu@k them.

[Bill]

I got you beat I have not been to a movie theater since I stopped working off duty details at the movie theaters and that's been around 25 years ago and counting. Between the talking the cell phones and the pot smoking I don't need to get into any fights at this point.

The last movie I saw was a Dinesh D'Souza movie, and I'm going to see his new movie on Sunday. I plan on wearing my brand new Trump shirt, so I'll report back if anything exciting happens.

[Mike Mercury]

I'm probably going to see this one:

https://www.firstman.com/

[Sea Six]

I thought this thread was another WINNING! Trump position on international business.

[SQUIRMIN VERMIN 84]

The first astronauts, like early test pilots, had balls of steel!
Exceptional people to take exceptional risks! :patriot:

[Cybercowboy]

I actually only found out this was a thing today and am absolutely flabbergasted that it even got as far as it did.

[Wathen1955]

I only go see maybe 2-4 in a year. One movie I'm going to see is this one:

Stanley Kubrick’s ‘2001: A Space Odyssey’ Gets First Imax Release

Just google "where can I see 2001 a space odyssey in imax" and it'll show you dates and times for the Imax theater closest to you. I've always wanted to see this on a big screen.

https://variety.com/2018/film/news/stanley-kubrick-2001-a-space-odyssey-imax-1202892054/

[Jobaka]

I could never understand how this business model made any sense.



Others are finally reaching the same conclusion:



MoviePass just lost $132 a share and it's trading at 5¢

Losses are mounting and cash is running short at MoviePass.
Helios and Matheson (HMNY), the owner of the subscription movie service, posted a $126.6 million loss in the second quarter, dwarfing its $2.7 million loss in the year ago period. It lost $132.47 a share.

The company's latest government filing also presented a picture of just how rapidly Helios and Matheson is spending money on the service.

It has burned through more than $219 million in cash since the beginning of the year. Most of that money, more than $150 million, has been spent in the last quarter.

Meanwhile, the company's cash reserves are dwindling. It has only $15.5 million in cash on its balance sheet, plus another $28.7 million held by payments processors. Helios and Matheson warned that "without raising additional capital, there is substantial doubt about the company's ability to continue as a going concern."

The company is also facing possible legal action. Purported stockholders have filed two federal class-action complaints against Helios and Matheson this month accusing the company of making "materially false or misleading" statements to the market. The company said it intends to "vigorously defend" itself and believes the complaints are "without merit."

The quarterly document, filed Tuesday with the Securities and Exchange Commission, contrasts awkwardly with the message Helios and Matheson and MoviePass have been sending publicly for weeks.

Earlier this month, MoviePass quoted Mark Twain in a release that declared, "talk of our demise is greatly exaggerated." It said it was only "going through a rough patch not unlike what other disruptive enterprises experienced in their early day."

On Wednesday, Helios and Matheson touted its year of MoviePass ownership in a news release that did not mention its financial losses. Instead, the company focused on its subscriber growth and contributions to the domestic box office.

Meanwhile, the service, which attracted millions of customers with its promise of "unlimited" access to moves for $10 a month, has been fiddling with its model in a bid to stay solvent.

In July it introduced surge pricing, which added an additional fee to the cost of a ticket when movies were in high demand. Customers were sometimes charged as much as $8 extra for an individual ticket.

The company also said last month that it would raise its prices and limit access to some blockbuster movies last month before abruptly switching course a week later. Now, it says it will keep the $10 price point, but only allow customers to see three movies a month.

Helios and Matheson recently had a reverse 250-to-1 stock split in an effort to raise its price and avoid being delisted from the Nasdaq. But the stock has continued to plunge. By Wednesday morning, it was trading at about 4 cents per share.

Because of the poor stock performance, the threat of delisting remains on the table. In its most recent company filing, Helios and Matheson said it has been given until December 18 to regain compliance with Nasdaq rules.

https://money.cnn.com/2018/08/15/news/companies/moviepass-losses-mount/index.html

[DAB]

Lucy: "it's ok Ricky, i'll make it up on volume"

:faint:

:slap:

[Bill]

Update:

Saw the new Dinesh D'Soua movie this Sunday. Pretty good, but all the video clips he used I had already seen.

Wore Trump shirt. No comments from anyone, no dirty looks, no thumbs up, just an unremarkable day out. Maybe Houston is less nutty than other cities.

[MrPeabody]

Others are finally reaching the same conclusion:

I heard about this deal months ago. I don't go to movies, but I have some relatives who are avid movie goers, so I looked into their website. I swear they have a disclaimer that looks like half of the bible. It says in pages and pages of text that they don't have to hold up any part of the agreement and they can change the rules anytime they want. Don' like it? pay monthly and quit whenever you want.