MoviePass Down Because It Literally Ran Out Of Money
MoviePass missed a payment, so if you wanted to go see "Teen Titans Go To The Movies", frickin' sorry.
What’s that o noble film viewer? You brigadier of being a cinema audience member? You wanted to go use MoviePass to see “Sorry to Bother You?” (perfect movie by the way). Well, tough, my friend! MoviePass, the app whose increasingly shifty business model, where you pay $10 a month for a credit card that lets you watch unlimited movies, was already under intense scrutiny. crashed this morning. Why, you ask? Well. MoviePass literally ran out of money.
Helios and Matheson, MoviePass’s parent company, missed a payment to one of its many lenders, thus making MoviePass broke. As of earlier today, Helios and Matheson have borrowed five million dollars to pay back the loan and get the service running. So they borrowed five million dollars to pay back about that much money so they can keep funding their business model which is, again, an unlimited movie credit card that they pay off everything except $10. They lose five dollars if I go see one movie a month in the evening.
At this point I feel bad for them. I’ll pay $15 to go to see Incredibles 2! Settle down guys! Think of a new business model! Or if you’re going to lose your shirt over a terrible business model, make a MoviePass but for food. That could help some people out.
So… MoviePass is on its last legs. As long as we’re here, go see “Sorry To Bother You” while you can. I mean, while you can. It’s back up, but maybe this is the beginning of the end end for MoviePass. I don’t know. I just know “Sorry To Bother You” is really good. Lakeith Stanfield is in it, Stephen Root, Tessa Thompson, Armie Hammer is the bad guy. Yup. You can’t depend on MoviePass, but the day you can’t depend on “Sorry to Bother You” being great is the day you probably saw a different movie by accident.
What do you think? Is MoviePass doomed? Let us know in the comments or on Twitter at @WhatsTrending.