MoviePass set to return in September in invite-only relaunch

MoviePass will make its return in September for $10 a month and will be invite-only, choosing users through a waitlist.

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- One thing that is coming back for moviegoers-- maybe some of you are very excited about this-- MoviePass is back. The subscription that offered theatergoers access to unlimited movies for just around $10 is returning, albeit with a new price tier. So the new app will be accessible by invite-only. You have to join a waitlist that opens at 9:00 AM, Eastern Time, this Thursday.

There will be three price points-- $10, $20, $30-- that offer consumers a various number of credits that you can then use each month on movies. The service is expected to launch in early September. Dave, I don't know. It clearly didn't work last time. There's a lot of questions out there-- just what exactly, how many credits you're going to get, how many credits you're going to have to use to go see the movies. I'm not convinced, at least from what we know-- and we don't have a heck of a lot of details-- that it's going to play out differently this time around.

- Well, it's interesting. The co-founder, Stacey Spikes, said this could account for 30% of all moviegoers by 2030. Now, a little context on that-- they peaked at 4% in 2018. So no, my friend, it will not come anywhere close to that. But Ali, am really curious, in particular, what comes with the $10 price level. Ain't no way many people are paying for the 30. But if there's something to entice me to come twice a month at the 10 level, sure, why not? That's just a streaming network, at this point.

ALEXANDRA CANAL: And you know, like, even concessions. Like even if you could get a discount on concessions or something, that would be something to convince me.

- Free popcorn? Now I'm in.

ALEXANDRA CANAL: Free popcorn. You know, like something like that. I feel like that's a good idea for this.

- That is a good idea.

ALEXANDRA CANAL: You know? But this is banking on people going back to the movies. This is banking on Hollywood. Now, we've seen people go back to the movies but only for those big blockbusters.

- Once every few months.

ALEXANDRA CANAL: Action films. I don't know if there's enough content in the pipeline to really keep this company going. And I'm sort of surprised that they're not rebranding. I mean, we saw the rise and the fall. I don't know if it's a good idea to keep the MoviePass identity, or if you should switch it up and come out with a whole new concept. I'm not sure. I'm not totally convinced on this one.

- What do you think, Rochelle?

- Rochelle, you?

- I think-- I think the timing is really bad. We already know that there aren't going to be that many, like, big blockbuster movies and things worth going to the movies, too, coming in the fall. So why now? And the co-founder bought this company back after they went bankrupt just in November of 2021. I'm just like, the timing isn't good. Now, I was a fan. I had my MoviePass subscription. And I loved it. But you know, a lot's changed since then. I've got responsibilities, better streaming options. Yeah, they're going to have a hard time with this. Maybe if they could throw in some other bonuses, like a bit of Netflix, a free movie here with something else, that could work. But on its own, nah, I'm not convinced.

ALEXANDRA CANAL: Yes. And you know, to that point, I think we've seen a lot of streamers, like Netflix, try different distribution models. Right? I mean, we have Walmart partnering with Paramount Global for Walmart+. So maybe this is a way for some of these streamers to get in front of different types of consumers. So I'm curious. I do think they need to modernize it a bit.

- Yeah.

ALEXANDRA CANAL: And maybe you do partner with a streaming service down the line.

- So we've got a streaming partnership and free popcorn. And we've got some interest here, people.

ALEXANDRA CANAL: Yeah, can I get hired at MoviePass?

- I was going to say, maybe they should really start paying us for this advice that we're freely giving. All right, Ali Canal, thanks so much for coming on set with us.