MoviePass refunds annual subscribers as it further restricts member benefits

The struggling movie subscription service MoviePass has sent an email to members who have annual subscriptions, forcing them onto the same terms as monthly subscribers and offering them prorated refunds if they want to cancel their membership instead.

"We want to thank you for being a loyal member of our annual MoviePass plan. Your commitment to MoviePass has contributed to making our vision for an accessible and affordable moviegoing experience a reality," reads the email. "After experimenting with different models and options, we believe that our current monthly plan captures the need of our community — keeping prices low while continually striving to offer a wider selection of films."

The measure is a continuation of the company's...

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