Struggling movie ticket subscription MoviePass is finally shutting down after months of questionable policy changes and what seems like a never ending stream of negative press due to an inability to make money.

In a press release shared on Friday, MoviePass parent company Helios and Matheson Analytics said that the MoviePass service would be shutting down for all subscribers on September 14, 2019 because efforts to recapitalize the service "have not been successful to date."

moviepass august 2018
At this time, the company says that it is not able to predict if and when the MoviePass service will resume though it is "continuing efforts to seek financing to fund its operations."

MoviePass first launched its unlimited plan in 2017, promising customers unrestricted movie access for $9.99 per month, an effort that failed catastrophically within a matter of months.

MoviePass was providing customers with debit cards and paying full price for each movie ticket despite the low monthly fee, with the expectation that deals with movie theaters and customer data would make up for the cost.

In mid-2018, MoviePass ran out of money and was reportedly losing up to $40 million per month, and at that point, the company began cutting back on the quality of service by limiting movie access, raising prices, and even temporarily shutting down.

MoviePass even tried changing the passwords of its most active users in an attempt to save money.

Despite all of its efforts, MoviePass has not managed to retain enough customers to be profitable (going from three million subscribers last year to 225,000), and it hasn't helped that in August, an unencrypted MoviePass database leaked thousands of customer records.

Top Rated Comments

Compile 'em all Avatar
37 months ago
Seeing ONE movie usually costs more than $9.99... What kind of business model was it to sell "UNLIMITED" movies for $9.99?
Because most people won’t actually manage to go watch a movie once a month in the cinema.
Score: 5 Votes (Like | Disagree)
dampfnudel Avatar
37 months ago
What why?
Well, usually companies that keep losing money eventually go out of business or at least they should because I’m sure you would agree that investing a ton of money into a business that keeps losing money for years and years is dumb. That’s Uber in a nutshell. I know Uber is hoping for automated vehicles to become a safe and reliable reality sooner than most experts have predicted so they keep manipulating investors into believing their Ponzi scheme is the real deal. Now, if California passes AB5 which forces companies like Uber to treat everyone who works for them as full employees of the company instead of contractors/freelancers, things may get very dicey for a shady company like Uber. In other words, Uber may be next (among others). Uber can pull out of California, their home state, but what happens when they have to pull out of New York? Other states? The investor gravy train ends.
Score: 4 Votes (Like | Disagree)
hlfway2anywhere Avatar
37 months ago
I appreciate what they were trying to do but also good riddance.
Score: 4 Votes (Like | Disagree)
ghostface147 Avatar
37 months ago
Seeing ONE movie usually costs more than $9.99... What kind of business model was it to sell "UNLIMITED" movies for $9.99?
Apparently an unsuccessful one. Such a shady company, especially when they just reset your password to save money.
Score: 3 Votes (Like | Disagree)
michael31986 Avatar
37 months ago
Uber is next
What why?
Score: 3 Votes (Like | Disagree)
Unity451 Avatar
37 months ago
Uber is next
In California, at least. Thanks Governor Newsom! o_O
Score: 2 Votes (Like | Disagree)

Popular Stories

top stories 2jul2022

Top Stories: M2 MacBook Air Release Date, New HomePod Rumor, and More

Saturday July 2, 2022 6:00 am PDT by
The M2 MacBook Pro has started making its way into customers' hands and we're learning more about how it performs in a variety of situations, but all eyes are really on the upcoming M2 MacBook Air which has seen a complete redesign and should be arriving in a couple of weeks. Other top stories this week included a host of product rumors including additional M2 and even M3 Macs, an updated...
Mac Studio IO

Apple Begins Selling Refurbished Mac Studio Models

Thursday June 30, 2022 7:42 pm PDT by
Apple today began selling refurbished Mac Studio models for the first time in the United States, Canada, and select European countries, such as Belgium, Germany, Ireland, Spain, Switzerland, the Netherlands, and the United Kingdom. In the United States, two refurbished Mac Studio configurations are currently available, including one with the M1 Max chip (10-core CPU and 24-core GPU) for...
airpods pro 2 1

AirPods Pro 2 No Longer Expected to Feature Built-In Heart Rate or Body Temperature Sensor

Sunday July 3, 2022 8:07 pm PDT by
While past rumors have indicated the upcoming second-generation AirPods Pro will feature a built-in heart rate and body temperature sensor, Bloomberg's Mark Gurman has cast doubt on those rumors turning out to be true, saying instead such a feature is unlikely to come anytime soon. "Over the past few months, there have been rumors about this year's model gaining the ability to determine a...
Apple Watch 8 Unreleased Feature Thumb

Apple Watch Series 8 Model Rumored to Feature 5% Larger Display

Monday July 4, 2022 5:50 am PDT by
Apple is working on an Apple Watch Series 8 model with a larger display, according to DSCC's Ross Young and Haitong International Securities's Jeff Pu. In October last year, Young suggested that the Apple Watch Series 8 could come in three display sizes. Now, responding to a query about the rumor on Twitter, Young claims that the additional display size joining the Apple Watch lineup will be ...
macbook air m2

Exclusive: Apple Plans to Launch MacBook Air With M2 Chip on July 15

Wednesday June 29, 2022 5:23 pm PDT by
The redesigned MacBook Air with the all-new M2 Apple silicon chip will be available for customers starting Friday, July 15, MacRumors has learned from a retail source. The new MacBook Air was announced and previewed during WWDC earlier this month, with Apple stating availability will begin in July. The MacBook Air features a redesigned body that is thinner and lighter than the previous...