MoviePass Is Closing, Parent Company Looking To Sell

The Movie Ticket Subscription service has a long history of bad business practices. No surprise here!

The cards may have finally been dealt for MoviePass, the failed movie subscription service. In the companies height, MoviePass provided users with one movie ticket per day for just $10 a month. It wouldn’t be long before problems began for the company.

MoviePass has a bad history of halting service, blocking blockbuster films, and changing their pricing structure. Most recently, MoviePass disclosed a massive data breach, exposing thousands of user’s credit card information.

According to Business Insider, the parent company (Helios and Matheson Analytics) of MoviePass is looking to sell the business while a conflicting report from Cord Cutter News states the service is being shut down. The Business Insider report says that MoviePass has laid off over a third of its work force and more layoffs are expected.

Back in July, MoviePass announced a temporary shutdown as the company went through a redesign of its app. Over the course of the last few weeks, the app was back on for many users until this week when reports came that their accuonts were offline.

if MoviePass closes, it would not be a huge loss for the movie industry. In fact, the closure could lead to a boost in business for AMC Theaters and Regal Cinemas as both have their own ticket subscription service.

Business Insider also reported in August that MoviePass CEO Mitch Lowe would lock users out of their accounts. According to the report, this would only happen to highly active users of the service.

Do you or did you have MoviePass? Have you switched to AMC or Regal? Will you miss MoviePass?