According to Gizmodo, MoviePass is nixing its Unlimited Plan.
After a volatile few weeks, the troubled company appears to be out of money.
Parent company Helios and Matheson has a market cap of about $460,000.
It still pays full price every time one of its three million subscribers purchases a ticket.
This week it replaced the one-movie-a-day plan with a three-ticket per month limit.
However, the company also announced that it would not raise prices
Last week, the company said it would raise prices to $14.95 per month.
The company now says it will still have a top price of $9.95 per month.
It also announced the suspension of surge pricing and photo verification of ticket stubs.
?All along, we?ve known that we need to invest heavily to prove our business model and bring enough subscribers into the business to truly understand their usage patterns and allow us to leverage ancillary revenue opportunities.? Ted Farnsworth, Helios and Matheson CEO
06-08-2018 - Vidéo
