Buying a movie ticket through MoviePass just became more expensive.
According to The Hollywood Reporter, MoviePass will begin its peak pricing feature beginning Thursday, adding more costs to view films during peak business hours at all theaters.
MoviePass will now mark each film that requires a surcharge with a red lightning bolt. Films on the cusp of reaching peak hours will be marked with a gray lightning bolt.
The additional charges will vary depending on the film and time. Tapping on the film will show you how much more money youll have to pay.
Right now, MoviePass plans work out to be about $10 per month for a ticket every day. Any extra cost represents a healthy increase, percentage-wise, over the basic charge, according to THR.
The additional fee will be charged to the credit card associated with your account, according to Engadget.
To avoid the fee, youll need to select a different showing.
MoviePass shared an example of the feature, which showed the service charging an extra $3.43 to see Avengers: Infinity War during a peak time, THR reported.
However, MoviePass will soon offer a Peak Pass, which will let users bypass a Peak Pricing fee once per month.
"The new peak pricing feature is aimed at providing additional flexibility for us and our users around popular movies and times for which there is limited inventory," MoviePass' website says. "We are building peak pricing to be flexible and will be able to tweak it as needed based on the community's response."
The Peak Pricing will impact monthly subscribers and any new annual subscribers.
Those in the middle of an annual plan wont be affected until their plan renews next year.
MoviePass CEO Mitch Lowe said back in June the company hoped to add surge pricing to its subscription service. He told Business Insider surge prices would fall between $2-$6.
He said the decision will help bring people back to theaters during the weekdays and slow periods of the year.
The additional prices will help MoviePass financial side. The services parent company, Helios and Matheson, said last Monday that the company needs $1.2 billion. HMNY said it hoped to raise those funds through selling its stock and debt securities.
According to The Hollywood Reporter, MoviePass will begin its peak pricing feature beginning Thursday, adding more costs to view films during peak business hours at all theaters.
MoviePass will now mark each film that requires a surcharge with a red lightning bolt. Films on the cusp of reaching peak hours will be marked with a gray lightning bolt.
The additional charges will vary depending on the film and time. Tapping on the film will show you how much more money youll have to pay.
Right now, MoviePass plans work out to be about $10 per month for a ticket every day. Any extra cost represents a healthy increase, percentage-wise, over the basic charge, according to THR.
The additional fee will be charged to the credit card associated with your account, according to Engadget.
To avoid the fee, youll need to select a different showing.
MoviePass shared an example of the feature, which showed the service charging an extra $3.43 to see Avengers: Infinity War during a peak time, THR reported.
However, MoviePass will soon offer a Peak Pass, which will let users bypass a Peak Pricing fee once per month.
"The new peak pricing feature is aimed at providing additional flexibility for us and our users around popular movies and times for which there is limited inventory," MoviePass' website says. "We are building peak pricing to be flexible and will be able to tweak it as needed based on the community's response."
The Peak Pricing will impact monthly subscribers and any new annual subscribers.
Those in the middle of an annual plan wont be affected until their plan renews next year.
MoviePass CEO Mitch Lowe said back in June the company hoped to add surge pricing to its subscription service. He told Business Insider surge prices would fall between $2-$6.
He said the decision will help bring people back to theaters during the weekdays and slow periods of the year.
The additional prices will help MoviePass financial side. The services parent company, Helios and Matheson, said last Monday that the company needs $1.2 billion. HMNY said it hoped to raise those funds through selling its stock and debt securities.
