MoviePass is one of the most innovative services which intended to do a lot and the offers seemed to be very exciting as well. However, some believed that the offers were too good to be true. But it also seemed like MoviePass could pull its promises off. Although, we have just heard that MoviePass could not make it work. The company has let its customers know that the service is getting discontinued as soon as September 14 which is tomorrow. Therefore, if you were using MoviePass then we are letting you know that you won’t be able to use it from tomorrow.
Talking about MoviePass, the name perfectly sums up what the service does. It lets you subscribe to the service and you can then watch any movie for free. However, the unique thing about MoviePass was that you can watch the movies at your nearest theatres and not something like a digital subscription. This made people interested in the service because it is great to have a subscription which lets you watch any movies inside theatres for free after paying monthly.
However, MoviePass was not getting enough customers at the beginning which prompted them to increase prices of the subscription. This is in order to match the margins that the company had set for each customer and the money it had to raise to make the service work. Apart from price hikes, the business model was also changed as well as MoviePass was temporarily shut down once too. But it looks like nothing seemed to have worked even after MoviePass’ parent company raised a lot of money. As the company has notified its users the service will stop working from September 14 because “its efforts to recapitalize MoviePass™ have not been successful to date”. MoviePass says that it is looking at “all strategic and financial alternatives,”