MoviePass reintroduces $9.95 unlimited plan — with a catch

(MGN)
By  | 

(CBS) - MoviePass is hoping for a different ending as it revives the marketing pitch that nearly drove the subscription service into bankruptcy. The company that owns MoviePass, struggling Helios & Matheson Analytics, said Tuesday that it is again offering users a chance to watch as many movies as they want for the low, low price of $9.95 a month.

The catch? You have to pay for all 12 months upfront, and 3D films are excluded. That could make the roughly $120 investment somewhat dicey given that Helios & Matheson Analytics' is on shaky financial footing.

Film buffs who don't want to pay the full year's freight in advance can instead pay $14.95 a month for the unlimited plan. The monthly price will be $19.95 a month once the offers expire, although the company hasn't disclosed when that will be.

Helios & Matheson's financial woes led to disruptions in the service last summer, with MoviePass awash in customer complaints and cancellations after it hiked the price of its unlimited plan to $14.95 and blacked out major releases for two weeks. The company in January debuted a three-tier subscription model that had those on the bottom rung complaining of no showtimes being available where they lived.

Helios & Matheson's stock has lost nearly all of its value over the last 12 months an now trades for about a penny a share.