MoviePass’ daily deal on cutting floor
Looks like MoviePass’ movie-a-day deal may be gone for good.
The service, which previously let subscribers see a movie a day in theaters for $9.95 per month, recently slashed that number to four movies per month in a deal that tacked on an iHeartRadio premium subscription.
Earlier this week, MoviePass CEO Mitch Lowe was asked by The Hollywood Reporter if the company plans to go back to its unlimited model.
“I don’t know,” the former Netflix exec responded.
“We just always try different things,” he continued. “Every time we try a new promotion, we never put a deadline on it.”
In a statement to The Post, MoviePass on Friday was similarly evasive.
“We’re continually testing various promotions with different partners,” a MoviePass spokesperson said. “The current iHeartRadio deal is consistent with that approach.”
The CEO’s comments came less than a week after MoviePass parent company Helios and Matheson Analytics revealed that it was selling $150 million in new stock to help fund MoviePass, which is burning through $20 million a month.
Helios recorded a $150.8 million loss in 2017, largely from MoviePass, it said in its annual report released last week.
The service also angered its 2 millionplus subscribers by quietly changing its terms of service. Customers on the bottomless plan were permitted to watch films more than once, but now “select films” have been exempt.