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Back when MoviePass, the subscription service that lets you see unlimited movies per month, was first unveiled in 2011, the monthly rate bounced between $50 and $30. Then in August, the service drastically cut the monthly price down to just $9.95, and a massive increase in subscribers then followed. If even $9.95 a month was still too expensive for some, MoviePass is dropping its prices once again. The theater service is releasing a new annual plan that charges customers just $6.95 per month for one year--albeit in one lump sum.

Even though MoviePass had already cut its subscription fee drastically over the summer, the company is releasing an all-new plan that many potential customers may prefer. MoviePass has unveiled a new annual plan where subscribers can sign up for a flat fee of $89.95 for one year of MoviePass. According to MoviePass, that comes out to just $6.95 a month for a whole year. This does, however, include a $6.55 processing fee. The yearly plan is available to both potential new subscribers and people who already pay the traditional $9.95 per month plan. Existing MoviePass customers will receive 25% savings if they switch over to the new annual plan, so it won't be a total bust if you already pay the existing $9.95 fee.

This is a limited time offer, and it's the only plan available for new customers to choose from at the moment. The cost of a movie ticket tends to vary depending on location, but seeing as how I haven't paid $6.95 for a ticket in years, this annual plan pretty much pays for itself. Even seeing just one movie a month would more than justify the price, but keep in mind not to go too crazy with the theater visits. MoviePass recently altered its terms of service so that they have a right to limit your monthly theater trips if you "exceed a certain amount of movies per month." It should also be noted that, according to the FAQ on the MoviePass site, you won't get a refund for the remaining months if you choose to cancel your subscription.

MoviePass jumped up from 20,000 to 150,000 subscribers when it first cut its rate back in August. One can only imagine that this new price drop will see that number spike once again. However, MoviePass had trouble keeping up with the sudden demand, with some customers not receiving the MoviePass card (which you need to present at a theater to get a ticket) for several weeks. Certain theater chains like AMC also condemned the service, with some even trying to block its use. Regardless, MoviePass is still widely accepted by most theaters across the country.

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If you haven't already jumped on the MoviePass train just yet, this new annual service could be what finally changes your mind. This writer is certainly thankful that he decided to wait to see how this whole MoviePass thing shakes out before shelling out for another monthly subscription service. MoviePass is still working out a lot of kinks, so erring on the side of caution may not be a bad idea.

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