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MoviePass shifting annual subscribers to monthly plans

Published 08/24/2018, 04:22 PM
© Reuters.  MoviePass shifting annual subscribers to monthly plans
HMNY
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  • MoviePass (NASDAQ:HMNY) has sent an email to annual subscribers saying they now have the same terms as monthly subscribers, according to The Verge.
  • The company will offer prorated refunds for those who would rather cancel. Annual members have until August 31 to cancel or accept the new terms.
  • The annual subscribers who stay will now be limited to three movies every 30 days compared to the previous one movie per day.
  • MoviePass has been changing its policies to slow its significant cash flow. Monthly users got the reduced viewing schedule first and the company broadly blacked out member access to wide-release first-run films starting last month.
  • HMNY shares are up 4.84% or $0.0009 to $0.02 aftermarket.
  • Previously: MoviePass limits film options per day to six (Aug. 16)
  • Now read: Benefitfocus: Can The Rally Continue?


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