Post by Admin on Jan 30, 2020 0:10:45 GMT
www.cbr.com/moviepass-chapter-7-bankruptcy/
MoviePass Officially Dead, Files Chapter 7 Bankruptcy
by John Ridlehoover – on Jan 29, 2020 in Movies, Movie News
The final nails have been driven into the coffins of MoviePass and its parent company Helios and Matheson Analytics.
According to The Hollywood Reporter, both companies have filed for Chapter 7 bankruptcy and will be liquidating their assets. Among those assets are the companies Moviefone, MoviePass Ventures and MoviePass Films production company.
Stared in 2011 by entrepreneurs Stacy Spikes and Hamet Watt, MoviePass picked up a multitude of subscribers with its promise of unlimited theater movie showings for only $9.95 a month. The service was provided via a mobile app and credit card that MoviePass would send you. Users would select the theater and showtime of the movie they wanted to see, then the MoviePass card would finance the ticket cost. However, this service did not include 3-D or IMAX movie screenings.
Changes came to MoviePass users when the $9.95 a month service fee wasn't able to cover company costs. These changes included users only being able to go to selected showings as well as increased subscription fees. MoviePass officially shut down in September of last year.
Many major theater companies took issue with MoviePass, most notably AMC Theaters. Several of these companies have begun their own subscription services, including AMC Stubs A-List and Regal Unlimited.
MoviePass Officially Dead, Files Chapter 7 Bankruptcy
by John Ridlehoover – on Jan 29, 2020 in Movies, Movie News
The final nails have been driven into the coffins of MoviePass and its parent company Helios and Matheson Analytics.
According to The Hollywood Reporter, both companies have filed for Chapter 7 bankruptcy and will be liquidating their assets. Among those assets are the companies Moviefone, MoviePass Ventures and MoviePass Films production company.
Stared in 2011 by entrepreneurs Stacy Spikes and Hamet Watt, MoviePass picked up a multitude of subscribers with its promise of unlimited theater movie showings for only $9.95 a month. The service was provided via a mobile app and credit card that MoviePass would send you. Users would select the theater and showtime of the movie they wanted to see, then the MoviePass card would finance the ticket cost. However, this service did not include 3-D or IMAX movie screenings.
Changes came to MoviePass users when the $9.95 a month service fee wasn't able to cover company costs. These changes included users only being able to go to selected showings as well as increased subscription fees. MoviePass officially shut down in September of last year.
Many major theater companies took issue with MoviePass, most notably AMC Theaters. Several of these companies have begun their own subscription services, including AMC Stubs A-List and Regal Unlimited.