According to Business Insider, your dreams of MoviePass-enabled endless films for an insanely low price will be taking a hit this summer. Company CEO Mitch Lowe tells the outlet that come July, the subscription service will start surge pricing for movies deemed in “high demand†by the app. “At certain times for certain films — on opening weekend — there could be an additional charge for films,†said Lowe, adding that the move will tack on two additional dollars for very popular movies at very popular times. If you are an annual subscriber, though, Lowe says you will not be subject to this pricing increase.
A few more new features will be coming to MoviePass in August as well, with a “bring-a-friend†option that will allow users to purchase a ticket for a nonsubscriber “somewhere near the retail price of the ticket.†This means MoviePassers can choose spots next to one another in theaters with assigned seating. There will also be a new premium pricing option for users to buy 3-D and IMAX tickets (the service is currently limited to standard format screenings), and that will be somewhere in the $2 to $6 range.
It’s been a big week in theater-subscription news, with AMC announcing it will debut its own $20 per month service soon (that will include up to three movies each week, including IMAX and 3-D showings), and SEC filings for MoviePass showing that the service lost $40 million in May thanks to booming subscriber growth. As Business Insider reports, “The company also said it expected its cash deficit to reach $45 million in June. That’s up from nearly $23 million a month in the first quarter of this year.â€