MoviePass announced that the subscription theater ticket service will be shutting down for good tomorrow, September 14, 2019. The announcement caps off months of speculation regarding the future of the service.
In a statement released today, Helios and Matheson Analytics announced that MoviePass will be shuttering on September 14 because “efforts to recapitalize MoviePass have not been successful to date.”
The company is exploring several options for MoviePass including selling the company “in its entirety, a sale of substantially all of the Company’s assets including MoviePass, Moviefone, and MoviePass Films,” and a reorganization of the business. Furthermore, any sale of MoviePass comes with “the assumption or settlement” of MoviePass’s liabilities. You can watch our video on MoviePass’ demise below.
Source: IGN.com RIP Movie Pass: September Shutdown Date Announced
