MoviePass, the once-popular movie subscription plan whose too-good-to-be-true pricing structure led to its spectacular downfall, is opening a second waitlist for a revamped version of the program.
Movie distribution has also changed with the explosion of streaming services and many movies bypassing theatrical releases.Spikes co-founded MoviePass in 2011, but it wasn't until 2017 that the company took off when data firm Helios and Matheson bought a majority stake and dropped the monthly fee to $10.
The company burned through cash and couldn't deliver on what it promised. It stopped working for users and shut down inSpikes bought the company out of bankruptcy in November 2021. He announced plans for MoviePass 2.0 early last year. "I have never seen a slate like this where almost every weekend you have a $100 million film,” Spikes said. “Not a single one of these titles is going to be streaming at the same time. That’s a hell of a commitment from the studios.”
With partner theaters, users can often purchase tickets through the MoviePass app versus having to go to the theater to buy a ticket with a MoviePass card and your smartphone.
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