Discounted movie subscription service MoviePass shuts down

NEW YORK — The movie ticket subscription service known as MoviePass that allowed subscribers to purchase up to three movie tickets per month for a small fee has temporarily shut down.

MoviePass shut down Saturday and its future is unclear.

Helios and Matheson Analytics, the parent company of MoviePass, said in a release Friday that it was interrupting service for all its subscribers because its efforts to seek financing have not been successful.

It says it's unable to predict if or when MoviePass will continue. The company says it's planning to study all options including the sale of the company in its entirety.

MoviePass drew in millions of subscribers, initially luring them with a $10 monthly rate. But that proved unsustainable, and the company was forced to make changes. Those efforts never stopped the losses.

You may also interested in

Gap offers muted outlook for annual earnings, lower profit

Aug 18, 2016

Gap offers a downbeat annual profit outlook after reporting a 43 percent drop in net income for the second quarter

Zika researchers seeking volunteers willing to be infected

Aug 19, 2016

Researchers looking for volunteers willing to be infected with the Zika virus as part of effort to develop vaccines

Several tornadoes likely hit Indiana, Ohio; no bad injuries

Aug 25, 2016

Authorities say a wave of severe storms likely produced several tornadoes in Indiana and Ohio, damaging homes and businesses but causing no serious injuries

People also read these

Self-driving cars go public; Uber offers rides in Pittsburgh

Aug 18, 2016

The option to hail a ride in a self-driving car will soon be available to Uber users in Pittsburgh

Beer mega merger: what court ruling means for troubled deal

Aug 23, 2016

A British court has recommended that two classes of shareholders be created and vote separately on AB InBev's 79 billion pound ($104 billion) takeover of SABMiller

Ford recalls over 88K vehicles due to stalling problem

Aug 24, 2016

Ford is recalling more than 88,000 cars and SUVs because the engines can stall without warning due to a fuel pump problem

Emporium Post fulfils the need to know all things about consumers and how businesses can take this opportunity to reach their own customers.

Contact us: sales@emporiumpost.com

Join our mailing list now!