MoviePass’ Low Subscription Price Just Got Lower

In a move to lure new subscribers, MoviePass has dropped the price of its monthly subscription service from about $10 per month to just under $7. From a report: The company said for $6.95 per month, new subscribers will get one movie ticket per day, a minor catch being that users must pay for a year up-front. There is also a one-time $6.55 processing fee. It’s the umpteenth time that MoviePass has changed its price since launching six years ago at $40 per month (before raising it to $50), most significantly eight months ago when it was cut to just $9.95. The change had the desired effect, as subscribers swelled from 20,000 then to nearly 3 million today. Still, MoviePass is not without its critics, as some theater chains — most notably AMC — have criticized the service for allegedly cheapening the moviegoing experience. Also, industry executives worry that MoviePass cannot survive (it pays mostly full price for the movie tickets its subscribers use) and wonder if users that are left in the lurch when it folds will ever want to pay $9 (the average price in the U.S.) per ticket again.