MoviePass’ numerous price cuts on membership have helped drive up its subscription numbers to over 2 million and CEO Mitch Lowe hopes to pass 5 million by the end of the year.
The initial $9.95 cut led to a subscription growth of more than 16-fold in one month. November’s $6.95 per month cut led to 14% opting for the full-year deal and a quarter of those annual subscribers purchasing more than one membership. That month, sales were five times greater than October.
However, Second Measure believes MoviePass is playing a “dangerous game.” The lower the subscription price drops, the more money the company stands to lose every time it buys a full-price ticket for its millions of users.