MoviePass has given customers and investors a wild ride over the last year and a half. And that’s thanks to its unpredictable business strategy and execution rather than the entertainment it was supposed to be offering with its movie subscription service. Now, as reported by CNBC, MoviePass is almost certainly kicking the bucket tomorrow, September 14th. However, it’s still looking for a new life…
MoviePass’ parent company announced the news in a press release today that it’s looking to sell or reorganize the service to somehow keep it alive…
The details explain that MoviePass will stop offering its service tomorrow, September 14th and note that “the Company is unable to predict if or when the MoviePass™ service will continue.”
All of this isn’t a surprise as the company has a comically awful history of business decisions. Here’s a look at some of the preposterous events chronologically…
Back in March of 2018
- MoviePass CEO claims $10/month movie ticket service tracks where you go after the theater
But then a week later…
- MoviePass CEO totally backtracks previous comments about tracking you after you leave the theater
In April 2018, the unlimited model MoviePass was built on is nixed for the first time…
- MoviePass appears to end its unlimited movie option, limited to four movies/month for now
Then another restriction a day later.
- MoviePass now limiting customers to seeing a movie once
Annnd back to unlimited…
- MoviePass continues flip-flop saga, revives ‘unlimited’ movie-watching plan
But MoviePass is “running on fumes.”
- New SEC filing reveals MoviePass is running on fumes as it continues to burn through cash
In July 2018 the service saw a major weekend outage.
- MoviePass promises ticket refunds after widespread Friday night outage
Then it went completely offline because it ran out of $…
- MoviePass temporarily goes offline because it ran out of cash – and it’s still down for many
Next, major releases are banned for users.
- MoviePass CEO says major new films will not be available to subscribers going forward
And how about a price hike…
- MoviePass hopes a price hike and limiting new movie access can save it
Now in August 2018 ehhhh, maybe not, how about price hike reversal and drop unlimited again!
- MoviePass drops price hike … and its unlimited plan
Two weeks later, lawsuits popping up as losses are made visible.
- MoviePass faces lawsuits, delisting, as new plan goes live and latest losses revealed
And a day later, new restrictions…
- MoviePass finds new way to limit remaining members with daily movie lineup restriction
September 2018 sees some surprises for former customers.
- PSA: MoviePass is reactivating some canceled accounts without consent
MoviePass somehow scrounges up $65M in funding…
- MoviePass owner touts $65 million in new funding as it rules out bankruptcy – for now
New plan as of December 2018 is to “break even” on ticket sales
- MoviePass introduces three new subscription tiers for 2019, hopes to break even on ticket sales
March 2019… maybe original content is the answer? LOL…
- MoviePass to produce original movies in latest pivot
Annnnd another business model change…
- MoviePass tries out latest random business model: unlimited unless they say otherwise
Honestly, the fact that MoviePass made it another six months is more surprising than the service shutting down tomorrow. RIP MoviePass, that is unless you figure out some wacky way to be resurrected 😂.