This post was originally featured on MediaPost.
MoviePass: the company that wants to provide a movie ticket subscription package for $10 a month, making an overpriced industry affordable. The company has generated a lot of buzz in the last few months, but a lot of it has been negative.
MoviePass is certainly trying to disrupt the film industry, but perhaps they took on more than they could handle. Its adversarial stance certainly helped the company get consumers’ attention, but it also may have set them up for a fall.
But before we get to that, let’s take a quick look at the origins of MoviePass.
MoviePass has already made a huge impact on the film industry, amassing more than 2 million subscribers. Consumer data suggests that they the company has been a major factor in luring people back to the cinema.
Sounds like a big win for MoviePass, right? Well, as MoviePass has become more talked about, its frequent changes and bold promises have hurt its consumer perception.
In the past few months, MoviePass’ reputation has been increasingly volatile, as a slew of new policies have angered their customer base. For the last several months, the company has seemed to announce changes to their business model every week.
These changes have hurt the company’s image:
Get consumer insights delivered to your inbox.
MoviePass has had a few marketing wins though – with things like re-introduction to unlimited movies — but short-lived policy changes create short-lived positive sentiment. Overall, their sentiment has been on the decline, with an all time low of only 25% favorability.
With all these recent changes, many fear MoviePass is in turmoil and they may not last long enough to see their industry innovation come to fruition.
The MoviePass model may still be the future. Demand is certainly high, and the increasingly pricey industry has been in need of a shakeup for a long time coming. The only existing question though is whether or not they’ll be the company that finds success, or whether they’ll meet their point of no return and another player steps up.
For more information on movie theaters, read this blog: Can Hollywood Lure Consumers Back to the Movies?