Never a dull day with MoviePass. I wrote yesterday about the oddness of the experience yesterday. And how the lack of ability to plan, and the lottery game style – will I get a ticket or not – just doesn’t work super well for the MP Value Prop.
Today MoviePass tried to further explain movie selection and give some level of predictability. As we are used to with this company, the press was negative, and the explanation made the stock drop… again!
The only thing that is really clear to me at this point, is that MoviePass is still largely just a startup experiment. It should never have gone public, and there is really no way of predicting what the company will do next. They are tinkering with the product almost daily. They seem to almost pathologically hide the full truth from customers and investors. The sands shift so often you never really know where you stand with the company. I have said it before, they are like nothing you have ever seen before.
I am massively curious how many subscribers they will end up with by the end of the change over period. And it will be extremely interesting to see if they can manage to sign up any significant new customers at all.
I see this settling down to be a niche offering, centered almost entirely on partner theaters and partnered films only. If you have a great E-ticket theater nearby, the Value Prop is great. If you don’t – the Value Prop is now pretty weak.
If AMC exclusivity works for you, their Value Prop is way better now. For an extra $10, the consumer gets so much more it is not even really close now. I hate AMC. I hope it cripples them. But that is mostly just sour grapes 🙂 . In my little town, the AMC theater is totally awful – old, crappy chairs, terrible screens, it even of smells bad. I would rather stay home.
The good theater here, Fairchild Cinema, is independent. They are covered by MoviePass but not a partner. Going there on MoviePass is like playing some weird sweepstakes game. Will I win a time and ticket I like – play the MoviePass app game to see what you win! I could not recommend that to a friend. That’s a bad sign.
Maybe Moviepass will evolve from the niche play, back to something consumers could be excited about again. It changes so often, the one thing you can count on is it will be something different a few months from now.
I definitely see them conserving a ton of cash with the new restrictions. A slightly unuseable product does wonders to clamp down usage.
MoviePass is not too good to be true anymore. The problem now, is it true enough to be any good?
We will soon find out how many people hang in, and how many people sign up for the new plan. For E-ticket Users, I still think it is a no-brainer deal. For people who have an acceptable nearby AMC – that is now clearly the better deal.
For people like me who have no E-ticket and only a crap AMC option. It is a meh deal. Take it or leave it, I wouldn’t sign up, but I am also not going to cancel now. So I am not sure where that leaves me. I am feeling the same way about the stock. I won’t be buying more, but won’t sell what I have. I
I am renaming the service. MehPass