Oh, what a difference four months can make!
Back in March, THR and survey service National Research Group (NRG) conducted a survey of MoviePass subscribers. In that survey, NRG found that 84% of MoviePass subscribers were “very likely to recommend MoviePass,” and a whopping 83% were “very satisfied” with the subscription service. Hell, there were 62% of subscribers saying they planned on sticking with the movie ticket service “for a long time.”
Fast forward several months, and the results are night and day.
The latest survey from NRG (via THR) paints a completely different picture, which puts all the negative headlines MoviePass has garnered in the last couple months in a different perspective. Now, the big news is that a massive 47% of subscribers say they are “very” or “somewhat likely” to cancel their memberships following the myriad of changes to the service.
Yes, you read that right. According to the survey, MoviePass could potentially lose half of its subscriber base shortly. Of course, that assumes that the company will stay in business long enough to see the subscriber base plummet. As for the other stats mentioned above, those subscribers that said they would be likely to recommend the movie ticket service dropped to 52%, while the number of people “very satisfied” dropped to 48%.
The survey also says the most common reasons for subscribers wanting to cancel their subscriptions are because “They kept changing the rules” and “I couldn’t see the movie I wanted to see when I wanted to see it.” Of course, those are the basic tenants that drove the boom in subscriptions last year.
“MoviePass’ innovation was offering the freedom and flexibility to see any movie, at any time, at almost any theater, for a low price,” said NRG CEO Jon Penn in a statement. “By constantly changing the terms of service – limiting which films subscribers could see and when they could see them – MoviePass has eroded brand trust and undermined their leadership position.”
He continued, “There remains immense opportunity and moviegoer appetite for innovation in movie ticket buying. Future services that offer value, flexibility and convenience – in an economically viable way – will help drive moviegoing to new heights.”
READ MORE: MoviePass Has Lied, Misled, Cheated, & Failed Customers Repeatedly And F*ck It, I’m Out
As we mentioned in a previous report, MoviePass is fast approaching their potential doomsday of December 18, when parent company, Helios & Matheson, will be required to have a stock price above $1 per share. As of this writing, the stock sits at $0.02 a share. Yep, there’s still some work that needs to be done.