Are we seeing the last days of moviepass? Unlimited popular movies for a low subscription price...it looks like those days are gone.
"MoviePass, the beloved and beleaguered movie theater subscription service, is hanging by a thread. When the company announced earlier this week it was increasing its rates from $10 to $15 per month and would begin to limit tickets for 'blockbuster films' and available showtimes for all movies, experts predicted the company's imminent demise.
MoviePass was running so low on cash last week that it stopped working, but it miraculously staved off immediate doom by taking out, and then paying off, an emergency loan to restore service. But what happens when the very thing that people loved about MoviePass — the ability to see unlimited, popular movies for $10 a month — is suddenly stripped away, replaced with a slightly worse version of MoviePass?
Even the company's leaders seem leery of customers’ willingness to tolerate such unexpected changes. 'We count on your support and loyalty while we implement these necessary steps for the company you’ve grown to love,' MoviePass CEO Mitch Lowe pleaded in a public letter to users. The company did not respond to a request for comment." Read more