×
You will be redirected back to your article in seconds

MoviePass Stops Repeat Viewings as New Customers Are Limited to Four Films Per Month

In a potentially disappointing development for film fans, MoviePass has announced that subscribers can no longer see the same movie twice.

The controversial company made the announcement Friday on its web site in a two-sentence statement.

“We recently updated our Terms of Service to reflect that MoviePass subscribers are only permitted to see a select movie in theaters once with your MoviePass,” it said. “We hope this will encourage you to see new movies and enjoy something different!”

The restriction had been in place before last August, when MoviePass cut its monthly price from $50 to $9.95. Since then, MoviePass has attracted more than 2 million subscribers. Earlier subscribers were able to see a film a day, but currently, new members are limited to four movies a month along with a free trial of iHeartRadio.

MoviePass pays most theaters full price for the tickets its subscribers buy, meaning it is heavily subsidizing movie-going — a strategy that the company acknowledges is leading to losses.

On April 18, an independent auditor raised “substantial doubt” about MoviePass’s ability to continue operating as “a going concern” in financial documents made public by Helios & Matheson Analytics, the subscription service’s parent company. In addition, Helios & Matheson revealed that it has lost $150.8 million in 2017, which it ascribed to its acquisition of MoviePass.

In the report, the company’s auditor Rosenberg Rich Baker Berman & Co. noted that Helios & Matheson “has suffered recurring losses from operations and negative cash flows from operating activities,” adding that “this raises substantial doubt about the company’s ability to continue as a going concern.”

In a recent interview with Variety, MoviePass CEO Mitch Lowe predicted that the company will be profitable by 2019. Helios & Matheson CEO Ted Farnsworth also said at that point that he had sufficient financial resources at his disposal to tide MoviePass over until it is in the black. He said that he had raised $280 million and secured a $375 million line of credit since buying MoviePass in August.

 

More Film

  • Karlovy Vary Honorees

    Karlovy Vary Fetes Julianne Moore, Patricia Clarkson, Vladimir Smutny

    The Karlovy Vary Intl. Film Festival Honorees JULIANNE MOORE, Crystal Globe for Outstanding Artistic Contribution to World Cinema An actress, author and activist, Moore has long earned accolades on her diverse career path. The North Carolina native won a Daytime Emmy with her first major TV role on the soap opera “As the World Turns,” [...]

  • CLOSE QUARTERS – In Disney and

    Korea Box Office: ‘Toy Story 4,' ‘Aladdin’ Share Weekend

    Two Disney releases, “Toy Story 4” and “Aladdin” ruled the weekend box office in Korea. Opening on Thursday, “Toy Story 4” earned $8.54 million from 1.12 million admissions over its four opening days. The animated family adventure film accounted for 32% of the country’s total weekend box office. May release “Aladdin” slipped to second from [...]

  • Lendita Zeqiraj Agas House Movie

    Karlovy Vary Embraces New Voices From the East

    When Karlovy Vary Film Festival’s East of the West competition opened to submissions from the Middle East two years ago, festival artistic director Karel Och noted it was “about time to abandon the political definition of the ‘East of the West’ countries,” long determined by the geographical boundaries hemming in the former Soviet bloc. Though [...]

  • Let There Be Light Movie Marko

    Tough Competition in Spa Town Festival

    When the curtain rises June 28 on the 54th edition of the Karlovy Vary Intl. Film Festival, there will be a conspicuous absence among the 12 titles selected for the main competition: Czech directors. It’s just the second time this decade that the host country has failed to field a single entry in competition, a [...]

  • Diana Rigg, Terence Stamp Join Edgar

    Diana Rigg, Terence Stamp Join Edgar Wright’s ‘Last Night in Soho’ (EXCLUSIVE)

    Edgar Wright’s “Last Night in Soho” has rounded out its cast, with veteran actors Diana Rigg and Terence Stamp among the stars signing on for the latest movie from the “Baby Driver” director. Stamp can currently be seen in Netflix hit “Murder Mystery” with Adam Sandler and Jennifer Aniston. Rigg’s recent roles include Olenna Tyrell [...]

  • Zhang Zhao LeEco film

    Zhang Zhao, Chief of Le Chuang (Formerly Le Vision Pictures), Resigns

    Zhang Zhao, the chairman and CEO of Le Chuang Entertainment, formerly known as Le Vision Pictures, has resigned for “personal reasons,” the firm said.    Zhang’s resignation was announced in a statement posted to the firm’s official social media account Monday, which thanked him for his service. “Le Chuang will carry on as before, using [...]

  • Bob Berney

    Bob Berney to Leave Amazon Studios' Head of Marketing and Distribution Position

    Bob Berney, Amazon Studios’ head of marketing and distribution, is stepping down, Variety has confirmed. Berney was hired by Amazon in 2015 and recently reached the end of his four-year contract. His last day will be Friday. During his time at amazon, the film veteran oversaw a number of successful films including “Manchester by the [...]

More From Our Brands

Access exclusive content