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|It's official -- MoviePass is now dead. Yesterday, the once leading theater subscription service announced they were shutting down for good on Sept. 14th. Now, if you head over to their website, all you'll find is an official statement explaining their decision to completely shut down.|
MoviePass was once the leader in movie theater based subscription services, boasting a subscriber base in the millions. However, after months of hemorrhaging money from an unsustainable business model, MoviePass had to make drastic changes that lead to a major decline in subscriptions.
In addition to those drastic changes, which strayed from their much loved original unlimited plan, MoviePass also suffered controversy after controversy, never able to recapture their once glory.
Now, MoviePass is officially calling it quits, their statement reading, "our efforts to recapitalize the company have not been successful to date."
Prior to their announcement yesterday, MoviePass notified current subscribers of their imminent end, letting them know that they'll be “providing subscribers with appropriate refunds for their period of service already paid for.”
Though the end for MoviePass always seemed pretty near, it's still sad to see what was once a great service finally fall for good.
What do you think of this recent news? Were you a MoviePass subscriber during their heyday? Let us know in the comments below.