According to the finance app Trim, MoviePass lost over half of its customers in 2018. The year has not been good for the company, as its business model proved unsustainable. The company’s stocks have suffered as well, with shares of the company trading for around two cents, which has made its continued listing in the market being called into doubt.
The service originally launched as a $10 monthly subscription with which you were allowed to see one movie a day for the entire month. After it became apparent that they were hemorrhaging money, the company switched to a stricter subscription model. The prices were raised and much tighter limitations were put on how many and which movies subscribers were able to see, defeating the purpose for many customers. Big blockbuster movies were often excluded and subscribers were limited to three movies per month with most plans.
The future is shaky to say the least. It already ran out of money once and was forced to borrow to stay in business at all. Its continued survival is certainly in doubt at this point. For subscribers that still find value in the company’s offerings, this could be bad news, but it would appear that those people are firmly in the minority.
