MoviePass Mayhem

What’s the deal with MoviePass? It seemed too good to be true when the subscription service first launched: watch one movie a day for the whole month and only pay 10 dollars. Unfortunately, it was too good to be true, as the entire service is on the brink of shutting down. Last week, MoviePass stocks were trading around $0.07 per share from their parent company. Does this spell the end for the short-lived service?

Apparently not. MoviePass is bouncing back with a “solution” to their problem. The company claims they grew way too fast, and they could not achieve financial success without the partnership of theaters. However, that partnership never happened, and MoviePass ended up paying full price for all of its 3 million subscribers’ tickets.

So now, instead of getting 30 films a month, you can get 3 films a month. That’s right, they’re slicing their policy all the way down to one-tenth of the original plans. This news came after MoviePass claimed it would be raising their prices. They took this new path instead, as their consumer base nearly rioted at the thought of increased prices.

Currently, it’s safe to assume MoviePass is out of money. Three films a month for 10 bucks isn’t bad, but if you go on discount days like I do, thats like getting one viewing free, which seems trivial for a subscription service that offers nothing more than bad news on a weekly basis. My advice is to stay far away from this company.

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6 years ago
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