MoviePass is continuing to struggle to stay afloat, as they announced that they are terminating their annual subscription plan. Comicbook reported that MoviePass alerted all subscribers saying they would be moved over to a monthly plan.

MoviePass sent out an email to its subscribers, thanking their members for their loyalty and support which has allowed MoviePass to carry out their vision and goals. After multiple restructuring and tweaks, they have determined that the monthly plan is what fits with what the community needs.

Members who were originally on the annual plan have been immune to the policy changes that have been put in place over the past several weeks.

MoviePass had previously scaled back the monthly plan, and restricting moviegoers to only three Movies a month for $9.95, with a $5.00 discount for additional tickets. Subscribers can also receive a refund if they don't like the new plan.

The Verge reported that this latest change is part of the company's plan to cut its massive losses. Their latest reshaping comes after their blackout of a handful of first-run films [VIDEO] like "Mission Impossible - Fallout." The annual plan was only offered during certain periods last fall. It was mainly an attempt to draw subscribers into a year-long contract.

MoviePass is trying everything to save money

As MoviePass continues to record losses they are working at restructuring their business model. They originally introduced surge pricing, a few weeks ago but then walked back that decision.

They later changed the subscription cost and the number of movies they could watch each month.

MoviePass just recently limited the number of movies available to its members. They have just started canceling annual plans and switching users over to monthly plans, that will be paid out until the end of the year.

While many see this as a break in their terms of use, and a possible reason for a lawsuit, they point out that their terms of service says that any portion of their services can be changed or interrupted at any time. MoviePass has even warned that users only options for dealing with poor service or dissatisfaction is to leave the service.

MoviePass users have a week to decide whether to keep service

MoviePass is working hard at trying to keep its annual members placated. MoviePass has offered up a one week deadline, for members to decide whether to cancel their plan or accept the new monthly plan and conditions.

For most, both plans have become useless since mid-July, when MoviePass started blacking out new films. While not good news for MoviePass, new competitors are starting to pop up [VIDEO] and appear to be a better option for the failing service.