MoviePass Shutting Down Permanently Amid Bankruptcy
- 4 years ago
MoviePass Shutting Down Permanently Amid Bankruptcy In a regulatory filing, MoviePass said it will liquidate its assets after failing to find
other "strategic alternatives." The once trailblazing movie ticketing
service allowed people to see an
unlimited amount of movies in theaters. MoviePass charged its subscribers a
monthly fee, which dropped to $10 in 2017,
creating buzz around the company. The company grew to 3 million subscribers in
less than a year, but critics deemed the low price
to be an unsustainable business model. MoviePass suffered infamous technical issues, took a loss on most every ticket sale and began to limit access to newly-released movies. Still, MoviePass has undoubtedly left its mark on the industry. Several movie theater chains now offer subscription-based ticket services.
other "strategic alternatives." The once trailblazing movie ticketing
service allowed people to see an
unlimited amount of movies in theaters. MoviePass charged its subscribers a
monthly fee, which dropped to $10 in 2017,
creating buzz around the company. The company grew to 3 million subscribers in
less than a year, but critics deemed the low price
to be an unsustainable business model. MoviePass suffered infamous technical issues, took a loss on most every ticket sale and began to limit access to newly-released movies. Still, MoviePass has undoubtedly left its mark on the industry. Several movie theater chains now offer subscription-based ticket services.