Alas, poor MoviePass. We knew it well. AMC, Cinemark, and Cineworld hope their sequel alternatives are anything but tragedies.
MoviePass stormed onto the scene in 2017, offering a novel business model: a monthly subscription offering all-you-can-eat movies — as much as one free movie every day of the month — for the low, low price of just $9.95. Consumers rejoiced at the upending of the $50-a-family night-at-the-movies business model that Hollywood had championed for years, and MoviePass’ owner, Helios and Matheson (OTC:HMNY), quickly became one of the hottest stocks on the market.
But like an epic Shakespearean play turned into a film starring, produced, and directed by Sir Kenneth Branagh, MoviePass ended in tragedy this month.
Source: MoviePass Is Dead. Here’s Who’s Left. | The Motley Fool