#MoviePass is making a comeback after going bankrupt in 2019. Let us explain what will be different …
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00:00MoviePass is making a comeback, but does the company have a sustainable business model that
00:04will actually make money this time around? And will customers still be able to see a
00:08movie a day for $10 a month? Brute can explain in less than 60 seconds. MoviePass went bankrupt
00:13in 2019 when it racked up massive amounts of debt after the launch of a popular promotion
00:18where subscribers could pay just $10 a month and see a movie a day. The too-good-to-be-true deal
00:24added over 3 million subscribers in less than a year. MoviePass however was paying full price
00:29for every single ticket its subscribers purchased. And at the peak of its popularity, the company was
00:34losing more than $20 million a month. Stacey Spikes, a co-founder who was fired before the
00:40company's fallout, bought MoviePass out of bankruptcy in 2021 and is wanting it to make
00:44a comeback with a new and improved business model. A lot of the details remain unclear,
00:48but the beta relaunch is set for Labor Day. It will allow customers to choose from three
00:53different price tiers and an unlimited option will not exist.