https://youtu.be/iylQe4fHFPw
The game-changing cinema subscription service MoviePass made waves in the last year as a $10-a-month deal, but the economics may not make sense for the company. They had a big outage on Thursday night and reportedly MoviePass’s parent comapny had to borrow millions to stay afloat this week. This follows another negative report weeks ago said they are burning through $21 million dollars every month as the company buys the movie tickets for it’s subscribers, but subsidizes it with data mining and building tie-in deals with other businesses related to seeing movies.
There has also been widespread reports of bad customer service, the addition of surge pricing, and new restrictions.
The idea is wild when you do the math, but if it can last it could change the way we take in movies. Check out this recent interview with MoviePass CEO Mitch Low who was previously successful as the co-founder of Netflix, where he breaks down the wild concept of the currently money-losing venture which may be on it’s last legs according to industry insiders.
