MoviePass officially closes tomorrow

It's over, guys. The ringtone officially rang for MoviePass. The pioneering cinema subscription service will be closed tomorrow, September 14, 2019. The news should not surprise us after the company has spent the last two years in the news cycle. for a series of price increases, system shutdowns and changes in the business model. .

The parent company of MoviePass, Helios and Matheson Analytics, said Friday in a statement that its "recapitalization efforts of MoviePass ™ had not been successful so far. The company is unable to predict whether or when the MoviePass ™ service will be maintained. They continued, "The company is continuing its efforts to seek funding to finance its activities. There can be no assurance that such funding will be obtained or available on terms acceptable to the Committee. "

<img class = "alignright wp-image-755909" title = "moviepass-logo" src = "http://cdn.collider.com/wp-content/uploads/2019/01/moviepass-logo-600×400.jpg" alt = "moviepass-logo “width =” 360 “height =” 240 “srcset =” http://cdn.collider.com/wp-content/uploads/2019/01/moviepass-logo-600×400.jpg 600w, http://cdn.collider.com/wp-content/uploads/ 2019/01 / moviepass-logo-450×300.jpg 450w, http://cdn.collider.com/wp-content/uploads/2019/01/moviepass-logo-900×600.jpg 900w, http: //cdn.collider. com / wp-content / uploads / 2019/01 / moviepass-logo.jpg 1200w “values ​​=” (max-width: 360px) 100vw, 360px “/> The tumultuous MoviePass journey, which has been difficult for two years, began a little later, offering affordable movie tickets via a subscription, first via a card, then an app, which has struggled tirelessly with business and commercial issues. the financial difficulties mentioned above.

The latest news involved massive layoffs for company staff and a TechCrunch report that the company would expose "tens of thousands of customer card numbers and personal credit cards because an essential server does not exist. Was not protected by a password. The system suddenly stopped in July, but the shutdown was supposed to be temporary, leaving subscribers without delay for a possible return.

Even if it is not a surprise, it is really a shame to see the company sink in this way. MoviePass has been around since 2011 with a tiered subscription plan, but they started becoming a well-known name in 2017, when the company launched their irresistible package at $ 9.99 per month, allowing subscribers to see a movie a day. It sounded too good to be true, and that was it. Shortly after, the company found itself in an endless dance to try to grow its money, eventually reducing the number of movies that subscribers could see per month and limiting the number of titles available by blackening some of the biggest releases.

MoviePass also struggled to partner with major theater chains, some of which were inspired by the creation of ticket subscriptions; including the AMC Stubs A-list program, which allows subscribers three tickets per week for a monthly fee of $ 20. In this way, it is undeniable that MoviePass has shaken the distressed film distribution business for a long time and has highlighted a way to keep viewers in theaters after the rise of streaming and VOD. Unfortunately, they did not find a way to make a sustainable business plan (at least, the press release mentioning their hopes for the future), but there is no doubt that the MoviePass saga was a fascinating moment in the history of cinema. .

To learn more about the legendary saga of MoviePass, check out the links below: