MoviePass Is Overwhelmed With Orders After Slashing Prices
- MoviePass subscriptions reach 400,000 after price cut to $10
- Controlling shareholder shooting for IPO by end of 2nd Quarter
When MoviePass told theatergoers they could see as many films as they wanted for less than 10 bucks a month, critics cautioned the deal was too good to be true. Turns out, the naysayers were at least partially right.
The movie service was inundated with sign-ups since cutting the price from $30, forcing some customers to wait almost a month before their passes arrive in the mail. About 150,000 people signed on in the first two days following the Aug. 15 announcement, and the site had boosted subscriptions to 400,000 as of Tuesday.