When MoviePass drastically dropped its prices in August, the company expected some growing numbers. What it didn't expect was jumping quickly from 20,000 subscribers to 150,000—and in a matter of days, to 400,000.
That dramatic increase was more than anyone at MoviePass bargained for, and led to a spectacular backlog keeping new users from getting their subscription cards and getting to actually,you know, go to the movies.
MoviePass C.E.O. Mitch Lowe told Bloomberg that the company "completely underestimated" how many new subscribers would join, but the surge in new users is at least part of the strategy that led MoviePass to striking prices from as high as $50/month down to $9.95 for unlimited movies. Read more...
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