MoviePass is making a comeback and it plans to relaunch next year
Here we go again….
UPDATE 8/22/2022 1:30 PM ET: Come September 5th, you can join MoviePass’ revived beta launch.
Here’s some news that comes completely out of left field. MoviePass, the subscription service that got you cheap tickets to movie theaters, is apparently coming back, reports Business Insider.
How did MoviePass get here? Well, for starters, the company went completely bankrupt after a string of questionable business practices. They canceled people’s accounts without them knowing, changed their pricing without any warning, ran out of money, and oh, let’s not forget the class action lawsuit.
This eventually caused them to go bankrupt and shut down the whole operation.
Now it seems one of the company’s co-founders, Stacy Spikes, has bought back the company. From Business Insider:
“I can confirm that we acquired MoviePass out of bankruptcy on Wednesday,” Spikes said in a statement to Insider. “We are thrilled to have it back and are exploring the possibility of relaunching soon. Our pursuit to reclaim the brand was encouraged by the continued interest from the moviegoing community. We believe, if done properly, theatrical subscription can play an instrumental role in lifting moviegoing attendance to new heights.”
MoviePass went up for sale in a bankruptcy auction but no one really offered a competitive bid. This is where Spikes came in swooped it up on the cheap. Spikes isn’t disclosing how much he exactly got the company back for, but he tells Insider that it was below a $250,000 minimum.
Spikes says he plans to revive MoviePass sometime next year, but no exact timetable has been set. Ahead of the launch, a new website has been created for the company under iwantmoviepass.com where I imagine further updates will be added to let folks know when it plans to relaunch.
UPDATE 2/14/2022 3:45 PM ET: MoviePass is back, but not in the way you expect.
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