MoviePass is shutting down
|09/13/2019||Posted by BusinessMediaguide.Com under General World News||
MoviePass will shut down Saturday, September 14, its parent company Helios and Matheson Analytics announced Friday.
Helios and Matheson said efforts to recapitalize the movie-ticket subscription service “have not been successful to date.”
MoviePass surged in popularity in 2017 after Helios and Matheson bought the service and drastically lowered the price. But it burned through hundreds of millions of dollars and failed to find a business model that didn’t lead to massive losses. In February, Helios and Matheson was delisted from the Nasdaq composite after trading below $1 for months.
MoviePass, along with Moviefone and MoviePass Films, which are all owned by Helios read more >>>