In the coming weeks, MoviePass says it will begin offering a Peak Pass that will let users waive one Peak Pricing fee per month. It seems that the company wants to get the ball rolling on that extra fee, as it's launching starting today.
MoviePass told customers that its Peak Pricing model will trigger whenever there is a lot of demand for a movie or showtime.
A red bolt icon will indicate peak pricing that that showtime. In the past, you could see one movie a day no matter the time of day. Customers with an annual pass won't be subject to Peak Pricing until their subscription renews. Subscribers, for instance, can no longer watch the same movie a couple of times.More news: Beryl becomes season's first hurricane, but it may not last long
To offset the new fee, MoviePass will introduce additional benefits and features to the service sometime in August, such as the ability to buy an additional ticket for a friend who's not a member of the service-although that will cost "somewhere near the retail price of the ticket".
Not all areas have Peak Pricing yet. "So you can't make a reservation (with MoviePass) now with theaters in big metro areas like AMC or Regal Cinemas, and people were going to the movies, and it would be sold out, and they would complain", he explained. The new policy will charge you extra if you plan on seeing a popular movie during a sought-after time slot.
It's similar to how Uber's surge pricing works: When there are more people hailing rides than there are drivers on the road to pick them up - like when it's raining or snowing, during rush hour or holidays like New Year's Eve - prices increase 1.8 or 2.5 times. Films on the cusp of reaching peak hours will be marked with a gray lightning bolt.More news: LG's new patent suggests a foldable smartphone with extendable hinge
MoviePass' promise of a movie every day for $9.95 a month is about to change.
In a statement Thursday, MoviePass said that it is still in a testing period with surge pricing, which will roll out to all subscribers over the next few weeks. Tapping on the film will show you how much more money you'll have to pay.More news: Willian finally speaks on Barcelona interest