MoviePass Shuts Down for All Customers

MakeUseOf | 9/16/2019 | Dave Parrack
Celtics2212 (Posted by) Level 3
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MoviePass is no more. The subscription-based movie ticketing service has collapsed, with no funding forthcoming, and parent company, Helios and Matheson, looking to sell the company’s assets. Still, MoviePass has at least changed things for the better.

MoviePass launched in 2011, offering cinemagoers the chance to watch a certain number of films per month for a set fee. Its popularity waxed and waned until 2017, when MoviePass started offering unlimited movies for just $10/month. Which made headlines.

MoviePass - Movies - Theaters - Which - Insane

MoviePass is now offering unlimited movies in theaters for just $9.95-per-month. Which is insane.

Seeing one or two movies a month covered the cost of the subscription. However, most users saw more than that, and with MoviePass covering the cost, the company burned through its seed money at a rate of knots. And now, the inevitable has happened.

Press - Release - MoviePass - Parent - Company

In a press release, MoviePass’ parent company, Helios and Matheson, announced that its board of directors has formed a strategic review committee to “identify, review and explore all strategic and financial alternatives” for MoviePass.

In the meantime, MoviePass has ceased to function. Or, as the press release puts it, it’s “interrupting the MoviePass service for all its subscribers...
(Excerpt) Read more at: MakeUseOf
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