I have been closely monitoring Facebook MoviePass groups and Twitter comments. Overall the sentiment and acceptance of the new plans have been positive. I think the new changes will stop the bleeding of subscribers, and consumers are seeing the value and the necessity of the changes for the company to survive.
This post is representative of most of the posts I have seen. This coming from the MoviePass Chatter page on Facebook. The comments are mostly positive on the plan itself. The negative comments are mostly centered around all the previous changes, and many customers are taking a “wait and see” approach. Meaning they are not going to cancel their accounts, but they also don’t trust the company and want to see what the experience is like after the changes are implemented. I can’t blame them for thinking that way.
Another consistent thing I am seeing on the MoviePass Fanatics Facebook page is customers saying they are going to subscribe to both the AMC Stubs Program and MoviePass. Many of the people on the Fanatics page are very heavy users – I mean these people are crazy about movies and go multiple times a week, so for them having both subscriptions can make economic sense. This may be the way things play out for the super heavy moviegoers. $30 a month is a pretty reasonable price for what would be 15 Movies a month, and it will allow the fanatics to see a single film more than once, which for some reason I don’t get, is quite a popular thing to do.
Moviepass is unlikely to hit 5M subscribers this year now, Lowe has already come off that in interviews this week. That said, I think my model for subscribers may be too conservative if MoviePass can now stick with this new plan. For now, I am going to leave the sub numbers where they are, but I won’t be surprised at all if those sub numbers need to go up significantly.