If you use Uber a lot in Los Angeles, Austin, Orlando, Denver or Miami, then a new Ride Pass can net you a flat rate on UberX and UberPool trips, offering savings of up to 15 percent. Ride Pass will run users $14.99 a month ($24.99 for Los Angeles residents). Rates will be based on historical data and will not increase due to weather, traffic, or surge pricing. Riders in LA will have to front a higher cost as they'll get additional benefits on e-bikes and scooters. And there's no limit to the number of rides Ride Pass users can take.
According to The Verge, drivers will still be making the same money, meaning that Uber will be eating the costs. It's an interesting move for the ride-hailing service as it reportedly lost $891 million this past quarter. And having to pay another $148 million due to the 2016 data breach doesn't help either. But the company continues to diversify, with the electric scooter market as its latest attempt at increasing revenue.
Both Uber and Lyft have experimented with subscription plans. In the past there was Uber Plus, which gave reduced rates for 20-40 rides for as low as $20. And there's Lyft's $299 All-Access Plan, where users can get 30 "free" trips per month, as long as each trip is $15 or fewer.
With Uber expecting to go public next year, we'll have to see if subscription services will help its initial public offering.