MoviePass Officially Shutting Down

[tacobell fan]

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."

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.

[LazyRohit]

eppudo sacchindi ga 

[Amrita]

Sachinadaniki  malla bonda pedutunnara? 

[JohnSnow]

1 minute ago, Amrita said:

Sachinadaniki  malla bonda pedutunnara? 

Saavala.. Sampesaru

[Spartan]

it never was a profitable business..

[shamsher_007]

5 minutes ago, JohnSnow said:

Saavala.. Sampesaru

@Amrita vaunty lantolle daggarundi anthyakriyalu kuda nirvahistharu. 

[panipoori]

I've heard they changed users passwords to make sure users cannot login

[Amrita]

8 minutes ago, JohnSnow said:

Saavala.. Sampesaru

heights of abuse chesi manchi MP ni champesaru. Enni movies chusano

[Amrita]

3 minutes ago, shamsher_007 said:

@Amrita vaunty lantolle daggarundi anthyakriyalu kuda nirvahistharu. 

Nenu hurt. 4 months kuda use cheyaledu yearly pay chesi. ☹️

[shamsher_007]

7 minutes ago, Amrita said:

Nenu hurt. 4 months kuda use cheyaledu yearly pay chesi. ☹️

aa 4 months lo year ki saripoye anni movies chsesavani @Kool_SRG briefed knw

[JAMBALHOT_RAJA]

7 minutes ago, Amrita said:

heights of abuse chesi manchi MP ni champesaru. Enni movies chusano

Avunu baga use ayindi.. limited ga use cheskunte bagundedi.. kani danni starting lo raka rakalu ga vadaru

[shamsher_007]

2 minutes ago, JAMBALHOT_RAJA said:

Avunu baga use ayindi.. limited ga use cheskunte bagundedi.. kani danni starting lo raka rakalu ga vadaru

mANA Mega fans anda Nandamuri and rajamouli fans gattiga vadarani vinikidi.

[JohnSnow]

13 minutes ago, Amrita said:

heights of abuse chesi manchi MP ni champesaru. Enni movies chusano

Anni chusav kabatte sacchipoindhi 

[Deadp0ol2]

mana vaadakam atuvantidi

[xano917]

investors ni sanka nakincharu...