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Well, it was a good deal while it lasted.
MoviePbad increases the price of its monthly $ 5 or 50% package and sets new limits on its movie ticket subscription service to stay in business. The troubled company said Tuesday (July 31) that it would increase the price of its standard plan to $ 14.95 a month in the next 30 days. That's a bit less than the average cost of 2 movie tickets in the United States, or a ticket in an expensive market like New York City.
The price increase will be rolled out to existing members after the end of their current monthly cycle. Quartz. Members of an annual plan, which has a standard price of $ 89.95, will not be affected.
MoviePbad said that it would begin to limit the availability of new large versions – those that open on more than 1,000 screens – during their first two weeks. theaters to cut costs, as well. Subscribers will not be able to select these titles in the application to get tickets in these cases. MoviePbad subscribers were excluded from the sixth film Mission: Impossible during the weekend, without warning, while MoviePbad began to initiate the change. Members would be stranded to see the release Christopher Robin this weekend and The Meg .
Rising rates and restrictions come almost a year after MoviePbad reduced the price of its service to $ 9.95 a month, roughly the cost of Netflix, to get into a daily movie show in most American theaters, down $ 15 to $ 50 a month. In doing so, he hoped to attract casual moviegoers. Since then, its number of subscribers has risen from tens of thousands of members to over 3 million, as people – especially in the large metropolitan areas where cinema is expensive – have been attracted by its promise of tickets to low price
. financial blow to support the pricing system. Parent Helios and Matheson spent an average of $ 27 million a month in the last nine months to fund his subsidiary. MoviePbad now says it's reducing its monthly deficit by 60% with some of the new measures.
The company will also look for other ways to "prevent the abuse of the MoviePbad service," says the statement released today. A few weeks ago, MoviePbad started charging fees to see popular movies during rush hours and prevented members from seeing headlines more than once this year.
Helios and Matheson shares rose 2.4% to $ 0.82 While MoviePbad stumbles, its competitor AMC Theaters, which has launched its own subscription service, AMC Stubs A-List, announces that It has signed 175,000 members in its first five
Read more: You can no longer see the main movies using MoviePbad
Read more: We are experiencing the greatest revolution movie ticket prices for decades
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