MoviePass Subscription Prices Rise As Service Struggles To Stay Afloat

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PHILADELPHIA (CBS) --  The subscription service MoviePass says it is hiking its monthly payment by 50-percent.

The monthly payment will rise from $10 to $15.

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MoviePass allows people to pay a monthly fee to see up to one movie per day in theaters.

Three million users take advantage of its service, but the company is struggling.

Last week the MoviePass app shut down when the company ran out of money.

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It was back up after a day, but the company announced it will no longer offer tickets for major releases.

The company that owns MoviePass has seen its stock drop below a dollar, and it's in danger of getting booted off the NASDAQ exchange.