SEVERE WX : Wind Advisory View Alerts

MoviePass has a new plan. Again.

MoviePass is changing things up yet again.On Monday, the struggling movie subscription service announ...

Posted: Aug 7, 2018 5:19 AM
Updated: Aug 7, 2018 5:19 AM

MoviePass is changing things up yet again.

On Monday, the struggling movie subscription service announced that it will soon limit the number of movies that its users can see each month.

It's the latest overhaul for a company that is burning through cash and trying to stay in business. It's hard to keep up.

What are the latest changes to MoviePass?

MoviePass subscribers will be allowed to see three movies per month in the theater. The previous plan allowed subscribers to see one per day.

When does this take effect?

August 15. If you already have a subscription, either monthly or annual, the changes will take effect for you when your plan comes up for renewal.

Related: MoviePass will limit customers to three movies per month

I thought MoviePass said it was going to increase the cost to $15 per month.

The company did say that last week, but it's now backing away from the idea after people complained.

The service will also once again include "many major studio first-run films." That's another reversal from last week, when MoviePass said it would restrict access to blockbusters during the first two weeks of release.

What about surge pricing? Ticket verification?

The company is suspending both of those.

Why is MoviePass making all these changes?

It is trying to stay afloat. MoviePass executives said Monday that about 15% of their customers are "stressing the system" — meaning the company is spending a lot of money paying for the large number of movies those people are seeing every month.

How much cash are we talking about?

A few months ago, government filings revealed that the company was burning through an average of $21.7 million every month. That increased to $40 million in May, which the company has said was probably because it was a popular month at the box office.

Related: 'Talk of our demise is greatly exaggerated,' says MoviePass

How has all of this affected the company?

Investors aren't happy. Stock in parent company Helios and Matheson has fallen from $39 last October to 7 cents at market close last Friday. It was trading at about 8 cents Monday afternoon.

That doesn't sound good.

It's actually worse than that. The company recently approved a reverse split, a cosmetic change that boosted the stock 250-fold, back up to $21. It has lost 99% of its value since that split.

Will MoviePass be around much longer?

It's an open question. The company has dismissed predictions of its downfall as "greatly exaggerated." And it is certainly trying to find a way to become sustainable, if you look how much it is tinkering with its formula.

In an interview Monday morning with The Wall Street Journal, MoviePass CEO Mitch Lowe acknowledged that the company has been "whipsawing people back and forth."

But he added: "I think we've got it now."

Huntsville
Clear
69° wxIcon
Hi: 81° Lo: 60°
Feels Like: 69°
Florence
Partly Cloudy
72° wxIcon
Hi: 80° Lo: 57°
Feels Like: 72°
Fayetteville
Partly Cloudy
69° wxIcon
Hi: 77° Lo: 56°
Feels Like: 69°
Decatur
Partly Cloudy
70° wxIcon
Hi: 81° Lo: 60°
Feels Like: 70°
Scottsboro
Clear
66° wxIcon
Hi: 80° Lo: 55°
Feels Like: 66°
WAAY Radar
WAAY WAAY-TV Cam
WAAY Temperatures

Alabama Coronavirus Cases

Cases: 530744

Reported Deaths: 10978
CountyCasesDeaths
Jefferson764931522
Mobile40959804
Madison34735503
Tuscaloosa25749452
Montgomery24327589
Shelby23425249
Baldwin21123308
Lee15873171
Calhoun14496314
Morgan14288279
Etowah13826353
Marshall12213223
Houston10561281
Elmore10052205
Limestone9958151
Cullman9659193
St. Clair9652243
Lauderdale9420241
DeKalb8828186
Talladega8220176
Walker7231277
Autauga6918108
Jackson6809112
Blount6656137
Colbert6296134
Coffee5509119
Dale4830111
Russell440738
Chilton4284112
Franklin425682
Covington4118118
Tallapoosa4026152
Escambia393376
Chambers3560123
Dallas3547151
Clarke351061
Marion3116101
Pike310877
Lawrence300298
Winston274272
Bibb260564
Marengo249664
Geneva249477
Pickens234361
Barbour230757
Hale222877
Butler215969
Fayette212262
Henry188744
Cherokee184645
Randolph180141
Monroe177340
Washington167239
Macon158950
Clay156156
Crenshaw152257
Cleburne148941
Lamar142535
Lowndes138753
Wilcox127030
Bullock123041
Conecuh110329
Perry107526
Coosa107228
Sumter104432
Greene92334
Choctaw60624
Out of AL00
Unassigned00

Tennessee Coronavirus Cases

Cases: 852841

Reported Deaths: 12255
CountyCasesDeaths
Shelby956561619
Davidson89355933
Knox50675635
Hamilton44280494
Rutherford43046434
Williamson28015217
Sumner24012349
Montgomery20255225
Wilson18804234
Out of TN1840797
Unassigned16998134
Sullivan16794294
Blount15490193
Bradley15032150
Washington14597245
Maury13499172
Sevier13391175
Putnam11396175
Madison11168242
Robertson9756131
Anderson8760172
Hamblen8610173
Greene7877155
Tipton7359103
Coffee6905121
Dickson6840110
Cumberland6734132
Carter6634158
Gibson6526146
McMinn650898
Bedford6506128
Roane6282105
Jefferson6211124
Loudon613069
Hawkins6077107
Lawrence593887
Monroe584095
Warren554881
Dyer5425106
Franklin515090
Fayette506877
Cheatham455355
Obion454196
Cocke450099
Lincoln435763
Rhea434875
Marshall419058
Campbell415463
Weakley412865
Giles3996100
Henderson378976
White364170
Macon361978
Carroll361683
Hardin357167
Hardeman352664
Lauderdale318944
Henry318576
Claiborne318273
Marion312347
Scott312345
Overton301161
Wayne296334
Hickman284046
McNairy282054
DeKalb279654
Smith277839
Haywood271162
Grainger262850
Morgan250139
Trousdale250122
Fentress241547
Johnson240739
Chester214351
Bledsoe214211
Polk207824
Unicoi203549
Crockett203248
Cannon192031
Union190734
Humphreys179927
Grundy179334
Lake170326
Sequatchie169829
Benton166540
Decatur158639
Lewis158126
Meigs139125
Stewart132528
Jackson132036
Clay110131
Houston109333
Perry106628
Moore101117
Van Buren84723
Pickett76024
Hancock58912

Community Events