MoviePass Halting Service on September 14 After Failing to Secure Financing

[Tsing]

MoviePass subscribers can probably go ahead and cut up their membership cards. Helios and Matheson Analytics Inc., owner of the movie-ticket subscription service, has announced that operations will cease tomorrow due to a lack of funding.

MoviePass rose to popularity by letting subscribers watch one movie per day for just $9.95 a month, but costs spiraled out of control. While Helios and Matheson hasn't admitted this is the end, it sure sounds like it.

The Company is unable to predict if or when the MoviePass service will continue. The Company is continuing its efforts to seek financing to fund its operations. There can be no assurance that any such financing will be obtained or available on terms acceptable to the Committee.

 

[alxlwson]

Lol. The only surprising part of this whole thing is that it lasted as long as it did

 

[DejaWiz]

One movie per day for $10/mo.

Most people that I know are perfectly content with their Prime, Hulu, and Netflix subscriptions that provide them unlimited movies/shows per day...even if they have to wait a while for content to transition from the big screen/broadcast to their streaming services.

 

[Brian_B]

Most people that I know are perfectly content with their Prime, Hulu, and Netflix subscriptions that provide them unlimited movies/shows per day...even if they have to wait a while for content to transition from the big screen/broadcast to their streaming services.

This. I'm actually surprised someone in the Theater industry (NATO or MTAC or something) didn't pick up on this, buy it out, and turn it around. I so rarely go out to a theater any more because I'd rather just sit on my couch, not pay $18 for a tub of popcorn, and be able to pause the flick to go take a leak whenever I want. I may be missing out on a 500" screen and jigawatts of surround THX sound, but I don't have to deal with gum on the floor or teenagers that won't put their phones down either.

 

[Peter_Brosdahl]

A co-worker had this when it started and I kept a close eye on it. Watched it deteriorate over the course of about year. Like @alxlwson said,

The only surprising part of this whole thing is that it lasted as long as it did

Have to say that nothing has made me regret the small fortune put into our HT over the last 5-10 years. Plenty happy to wait for the physical and stream the exclusives so going to the theater has become pretty much a no go for us.