As that process has gone on, MoviePass has implemented - and sometimes subsequently removed - a number of policies in an attempt to cut its losses. MoviePass pays full price for each ticket a subscriber uses, meaning that after a subscriber sees a second movie in a month, the company is operating at a loss.
MoviePass was planning to raise the price of its monthly movie-going subscription from $9.95 to $14.95, but is walking that change back.
The company says this will allow it to create a "long-term and sustainable business model". The company brought in Netflix co-founder Mitch Lowe to run the service, and he promptly lowered the monthly subscription rate and increased the number of movies users could see.
For example, if a MoviePass user wants to see the "Aquaman" movie this winter they should be able to see it at MoviePass-compliant theaters on opening weekend, with none of the issues that plagued the service during the opening of the latest "Mission: Impossible" film. At $9.95 per month, MoviePass is significantly cheaper than a single movie ticket.
As part of its new model, MoviePass is doing away with a bunch of other changes, too. That change would also come with a limit on new releases, with a two week block on getting tickets to a freshly-screened movie.
MoviePass is changing up its subscription plan once again. Those with a monthly subscription can sign up for the new plan starting on August 15th, once their current membership expires. The new plan "will include many major studio first-run films".
MoviePass made headlines last month when the app suffered an outage because its parent company couldn't afford to pay for customers' tickets. And it will no longer enforce ticket verification, which required users to take a picture of their ticket stub and submit it to the company as a way to stop abuse of the service. The stock rose 3 cents to 10 cents per share in early trading Monday, soaring over 45 percent on the new plan news.