MoviePass, the long-struggling theater subscription service, finally appears to be down for the count. On Friday, MoviePass notified all of its remaining subscribers that it would be shutting down the service effective Sept. 14, 2019, because “its efforts to recapitalize MoviePass have not been successful to date,” parent company Helios and Matheson Analytics announced.
“The company is continuing its efforts to seek financing to fund its operations,” the statement said. But, it added, “The Company is unable to predict if or when the MoviePass service will continue.” In addition, Helios and Matheson said its board has commenced a review of strategic and financial options, including a potential sale of the company in its entirety or a business reorganization.
Pretty much everybody knew this would eventually happen. Including a couple friends of mine who “used the fuck” out of their MoviePass cards, costing the company, by their estimate, over $1000 last year.