MoviePass Suspends Operations In Preparation For A New App

MovePass needs to either be sold to a larger chain or just fold. It has very little value left at this point.

MoviePass, the once revolutionary subscription service app that once charged $10 a month for a ticket a day , is suspending its operations to prepare for a redesigned app. The Hollywood Reporter is reporting that the suspension of service is in effect as of 5am on July 5, 2019.

According to the report, MoviePass is in the process of redesigning their app that will help serve the subscribers. I find it interesting that they are announcing this as a 4 day weekend begins. Although, this is better than when in July of 2018, the company just stopped working.

CEO Mitch Lowe says “There’s never a good time to have to do this, But to complete the improved version of our app, one that we believe will provide a much better experience for our subscribers, it has to be done.”

A few days ago, a report broke out that Regal’s Cinema is working on releasing Regal Unlimited, their version of MoviePass, by the end of the month. AMC has had their AMC Stubs: A-List service for a year this August with 800,000+ subscribers. The competition for movie ticket subscriptions is growing and become more and more prominent.

MovePass needs to either be sold to a larger chain or just fold. It has very little value left at this point.

Commentary: MoviePass claims the suspension, or halt, is for a new app. I believe they are prepping for a sale, merge, or complete shutdown. This claim is being made without any information other than the fact that they continue to lose money and have not been able to rebound from a disastrous 2018.