Does MoviePass still exist?
There was once a time when MoviePass subscribers could see a movie every single day for the cost of $9.95 a month.
Now, the company has officially shut down the service and its future is still undetermined.
When the company was founded in 2011, a MoviePass subscription cost about $40 a month..
Who owned Moviefone?
AOLAOL, now part of Verizon, bought Moviefone for $388 million in 1999. AOL shut down Moviefone’s 777-FILM phone number in 2014 and moved the service online.
Why did MoviePass shutdown?
On Friday, MoviePass notified remaining subscribers that it would be shutting down the service effective Sept. 14, 2019, because “its efforts to recapitalize MoviePass have not been successful to date,” parent company Helios and Matheson Analytics announced.
Did MoviePass shutdown?
Theater-subscription service MoviePass officially shut down on Saturday, September 14th, ending the platform’s controversial two-year run as a would-be disruptor of the moviegoing business.
How did MoviePass make money?
To be absolutely clear: The more subscribers MoviePass signs up, the more money it loses. It pays theaters full price for each ticket, whether a member visits once or 31 times a month.
How much money did MoviePass loss?
But the company loses money when its customers use a pass, because it must pay theaters for the tickets. Previous SEC filings revealed that the company was burning through an average of $21.7 million every month operating MoviePass. In May it blew through $40 million. Related: Is the end near for MoviePass?
Who is buying MoviePass?
In August 2017, a majority stake in MoviePass was sold to the analytics firm Helios and Matheson. At the same time, the company announced that it would lower its price for an unlimited plan allowing one film per-day, to $9.95 per month.
Who started MoviePass?
Stacy SpikesHamet WattMoviePass/Founders