MoviePass Is Relaunching. Here’s What’s Changing

What happened

MoviePass expanded beta testing of its new subscription plans nationwide Tuesday, according to an announcement made on the company's Twitter account. Anyone who signed up for the waitlist last summer can now use the service.

There are currently four MoviePass plans available. Each plan includes a set number of credits, which are used to purchase movie tickets for standard 2D screens. Here are the plans available nationwide, excluding Southern California and the New York metro area:

Matinee showings from theater opening to 3:59 p.m. cost 10 credits. Evening showings from 4 p.m. to close cost 15 credits on weekdays and 20 credits on weekends. Up to two months of unused credits roll over.

Southern California and the New York metro area have higher plan prices. Plans in these areas offer more credits, but movie prices in credits are also higher in these areas.

Since this is beta testing, plans and credit values are subject to change. "We are in the early stages of mapping out our credits nationwide," said MoviePass CEO Stacy Spikes, in an interview with Insider. The revamped MoviePass is expected to launch this summer.

So what

MoviePass is a subscription movie ticket service. It previously offered an 'unlimited' plan that allowed subscribers to watch one movie per day for $9.95 per month. Although it had over 3 million subscribers at one point, its unsustainable model led to numerous financial issues, and the company filed for bankruptcy in 2020. Co-founder and CEO Stacy Spikes, who was fired in 2018, purchased MoviePass in 2021 and started planning a relaunch.

While the new plans aren't the same incredible deal as before, they should still save moviegoers money. The average movie ticket cost $9.57 in 2021, according to Statista. Even MoviePass's $10 plan will cover tickets for one to three movies, depending on the showings you choose, so from a personal finance standpoint, you should come out ahead.

Now what

For anyone who loves going to the movies, a MoviePass subscription has its perks. You can use it at any theater that accepts credit cards. If you see movies regularly, you'll most likely save money with MoviePass. It also has a big drawback, though. You can only use MoviePass at the theater, which means you can't reserve your ticket and seat online in advance.

If you're considering MoviePass, first see if a movie theater you like has its own subscription plan available. Many theaters now offer these.

For example, AMC, the largest U.S. cinema chain, offers AMC A-List. This costs between $19.95 and $24.95 per month, depending on your location, and lets you see three movies per week on any type of screen. Unlike MoviePass, AMC A-List lets you make reservations online. If you normally go to AMC, then AMC A-List would almost certainly be a better deal than MoviePass.

MoviePass could be worth checking out, when it relaunches, if you see movies at multiple theater chains. The key is making sure to use all your credits, so you don't end up wasting money.