A surprising but not surprising thing has happened Friday. The large-scale ticket selling app, MoviePass, has shuttered its doors. This was a long-time coming with many issues arising mid to late 2018. Subscribers got an email from CEO Mitch Lowe detailing the future or lackthereof.
Users that were a part of this sequence of events won’t have to ask for refunds, according to their email, they will be refunding everyone. The date their service actually shut down was Saturday.
The shutdown of MoviePass wasn’t necessarily a secret as its profitability went extremely low. They even ran out of money during July 4, a shutdown that really proved they were not doing well. To close off the first paragraph, Lowe makes clear they aren’t sure when or even if they will revamp the ticket app at all.
They also made attempts to bring back people who already canceled their subscription.
He does believe in the need for something like the service in the market though. The email also attributed their low prices to other services following suit. AMC’s Stubs A-List is an example that launched mid-2018. Cinemark and Regal Cinemas also took the model and garnered a large movie-going audience.
MoviePass’ parent, Helios and Matheson, aren’t through, though. The company is, according to THR, seeking funding, but aren’t sure whether they will receive anything.