Jul 31, 2018 - Economy

MoviePass limiting new movies, increasing prices to keep afloat

Photo: Daniel Boczarski/Getty Images for MoviePass

In-theater movie subscription service MoviePass said Tuesday it will limit the viewing availability of blockbuster releases and increase service's cost to $14.95 per month within the next 30 days to accelerate towards profitability.

The details: The move comes after the company was forced to borrow $5 million to pay its bills and following a brief "service interruption." MoviePass said it has more than 3 million subscribers and is generating "incremental non-subscription revenue of approximately $4 to $6 per subscriber per quarter."

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