MoviePass CEO proudly says the app tracks your location before and after movies

mirimir · Aug 31, 2019

Predictable. Giving away money as a business plan.

ronjor · Sep 13, 2019

MoviePass will shut down for good on Sept. 14

Annie Palmer@annierpalmer 13 sep 2019
MoviePass announced on Friday it’s shutting down the discount ticketing service on Sept. 14.
The company informed subscribers that it was ending the service because its “efforts to recapitalize MoviePass have not been successful to date.”
Helios and Matheson Analytics, MoviePass’ parent company, said it has formed a strategic review committee to explore a possible sale of all or some of its assets.
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guest · Sep 17, 2019

MoviePass is dying, but its former leader wants to resurrect it
Ted Farnsworth says he isn’t ready to walk away
September 17, 2019
https://www.engadget.com/2019/09/17/moviepass-sale-ted-farnsworth-helios-matheson/

Ted Farnsworth announced today that he's made an offer to acquire MoviePass -- along with related assets belonging to its parent company Helios and Matheson Analytics Inc. In a press release, Farnsworth said he's proud of MoviePass and has no intention of walking away now.

"I believe there is great unrealized value in MoviePass and we want to rebuild and make sure it reaches its full potential," Farnsworth said. "I have always believed in the business model and the brand Mitch Lowe and I built at MoviePass. There's tremendous appetite for movie theater ticket subscription."
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guest · Sep 19, 2019

Why MoviePass really failed
An industry-shaking idea, and a company that flew directly into the sun
September 19, 2019
https://www.theverge.com/2019/9/19/...vies-helios-matheson-ted-farnsworth-explainer

Who can blame those early detractors? From the onset of the price drop, MoviePass’ model was literally too good to be true. The company played the middleman by buying movie tickets at list price, then giving them to subscribers. The initial hope was that most subscribers wouldn’t actually use the service regularly — like gyms, which use no-show subscribers to financially offset their heavy users.

But MoviePass’ ambitions were far more complex than just refashioning the gym membership for the movie theater. To better understand what exactly happened here — not just why the revamped company failed, but what set it down its comically self-destructive path — it’s best to start with Helios and Matheson. [...]
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ronjor · Oct 18, 2019

MoviePass is reportedly still charging customers

By Corinne Reichert October 18, 2019
The defunct movie service charged some customers twice more after going under, a report says.
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guest · Oct 23, 2019

ronjor said: ↑

MoviePass is reportedly still charging customers
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Updated article (October 22, 2019):

MoviePass CEO Mitch Lowe told CNET in an email that the report was false, and that only one subscriber was charged $9.95 on Sept. 15, before being refunded that amount.

"We are aware that some of our subscribers have mistaken refunds appearing on their credit card statements for charges and we hope this helps resolve any further confusion," Lowe said.
Updated on Oct. 22 at 3:05 p.m.: Adds comment from MoviePass CEO.
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guest · Jan 29, 2020

MoviePass Parent Company Files for Bankruptcy
January 29, 2020
https://variety.com/2020/digital/news/moviepass-bankruptcy-parent-helios-and-matheson-1203485327/

Helios and Matheson Analytics, which owns the defunct MoviePass cinema-subscription service, has filed for Chapter 7 bankruptcy protection.

The company disclosed the move in an SEC filing dated Jan. 28, when Helios and Mathenson filed the petition for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York.
Helios and Matheson listed its total assets at $396.5 million and total debts $276.8 million in its bankruptcy filing.

The bankruptcy filing comes after MoviePass in September 2019 notified remaining subscribers that it would be shutting down indefinitely because “its efforts to recapitalize MoviePass have not been successful to date.”
As disclosed in its bankruptcy filing, Helios and Matheson was being investigated by the SEC, the FTC, and attorneys general for New York and California.
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guest · May 15, 2020

MoviePass Bankruptcy Auction: Bids Due June 18, Customer Data Not Part of Sale (EXCLUSIVE)
May 15, 2020
https://variety.com/2020/digital/ne...cy-auction-bids-due-customer-data-1234607987/

The corpse of MoviePass — the cinema subscription service that flamed out last year after running out of cash — could be yours for as low as $250,000.

The court overseeing the sale of MoviePass’s assets has set June 18 as the deadline for interested bidders. The proceeding comes after MoviePass parent Helios and Matheson Analytics filed for Chapter 7 liquidation in January, after sustaining massive financial losses. In its bankruptcy filing, Helios and Matheson listed the estimated value of assets at between $1 million-$10 million.

However, none of the personally identifiable information on former MoviePass customers (such as emails addresses) will be part of the bankruptcy sale, which may arguably be the most valuable piece of the now-defunct service.
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guest · Nov 11, 2021

MoviePass purchased out of bankruptcy by co-founder
MoviePass could relaunch as early as 2022
November 11, 2021
https://www.techspot.com/news/92189-moviepass-purchased-out-bankruptcy-co-founder.html

In brief: MoviePass, the ill-fated movie ticket subscription service that went bust after launching a membership program that proved unsustainable, is planning a comeback. With the right strategy and business model, could MoviePass succeed the second time around?

The startup was founded in 2011 but didn’t make waves until mid-2017 when it slashed its monthly subscription rate to $9.95 per month.
The company’s business model simply wasn’t sustainable and despite efforts to restructure and stay afloat, MoviePass and its parent company ultimately filed for Chapter 7 bankruptcy.
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Now nearly two years later, the outfit is staging a comeback.

Insider reports that co-founder Stacy Spikes was recently granted ownership of the company by a Southern District of New York bankruptcy court judge. Spikes told the publication he was thrilled to have the asset back and is exploring the possibility of relaunching soon. Notably, previous customer data and email addresses were not part of the sale.
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Uitlander · Aug 11, 2022

mirimir said: ↑

My bet: It'll come back quietly, if they sign requisite third-party contracts. Or after they sell. It was probably just a "see what we can do" demo for potential buyers.
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As with the faux pas of Ubuntu awhile back, once trust is violated, the only trust one can legitimately maintain is that the previous transgressor will violate trust again, sooner or later. Fool me once shame on you; fool me twice shame on me!

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