MoviePass has been steadily declining over the last few months. Originally the service was offered to customers for the cost of $9.95 per month. This gave customers the ability to see one new movie in the theater every day. This definitely sounded like it was too good to be true, but it was working – until it wasn’t. The idea of a flat rate subscription is a good one, and certainly intriguing, but the reality and logistics of it aren’t that simple. To start, you can only see movies in 2D on standard screens. You can’t watch the same movie more than once in that week, and most recently MoviePass introduced surge pricing, which means you’ll pay more if you want to see a movie during popular times.
More recently, MoviePass actually ran out of money and was unable to pay for the tickets. Should we be surprised with this one? Not really. It was bound to happen. Like I’ve said in other posts, this isn’t a sustainable business model. Even from the beginning when I wanted to believe in MoviePass because it sounded like a great opportunity. But, it was too good to be true. That said, I think there is a sound business model to develop, but not in the way that MoviePass decided to go about doing it.
If you’re not sure what to do with your MoviePass account, because you don’t want to keep paying for a service that you’re not really getting – why not cancel your account and delete the app completely? Never fear. We are here to help you with this!
How to Cancel Your MoviePass Account
- Open the MoviePass app on your iPhone.
- Tap Account.
- Tap Account Details.
- Tap Plan & Billing.
- Tap Cancel next to your plan.
- Tap the Reason for cancellation drop-down.
- Tap on a cancellation reason.
- Tap Cancel Subscription.
- Tap Cancel Membership.
- Tap OK.
This will allow you to cancel your subscription. So make sure that you actually want to do that. To be clear – I am not telling you that you need to. I am simply giving you the tools to do it if that is something that you would like to do. And no one would blame you if you did. In fact, this past Monday, stock for the parent company of MoviePass, Helios and Matheson Analytics (HMNY) plunged by 60%. That’s huge!
There are a few reasons why this is happening – some of which I’ve already mentioned. The other could be attributed to the fact that services from Sinemia and AMC are also coming up with their own business models to provide a similar service to moviegoers. As I mentioned earlier – this is a truly great idea, but MoviePass took it to the extreme with such a low ticket rate and unlimited options in the beginning. It certainly brought in a lot of customers really fast, but now those customers are leaving just as fast. Is this the end for MoviePass? Maybe, maybe not. MoviePass has burned through a lot of cash, so it’s only a matter of time before they are out of cash completely. When this happens remains to be seen.