MoviePass announced on Friday it’s shutting down the discount ticketing service on Sept. 14. There was once a time when MoviePass subscribers could see a movie every single day for the cost of $9.95 a month. In the announcement, MoviePass CEO Mitch Lowe posted
Dear MoviePass™ Subscribers,
Over the past several months, MoviePass™ worked hard to relaunch its groundbreaking subscription service and recapitalize the company. While we were able to relaunch the service for some of our subscribers with an improved technology platform, our efforts to recapitalize the company have not been successful to date. As a result, it pains us to inform you that effective at 8 a.m. E.T. on September 14, 2019, we must interrupt service for all current MoviePass™ subscribers. MoviePass™ will be providing subscribers with appropriate refunds for their period of service already paid for. Subscribers will not need to request a refund or contact MoviePass™ customer service to receive a refund. Subscribers will not be charged during the service interruption. At this point, we are unable to predict if or when the MoviePass™ service will continue.
MoviePass has undergone several changes to its pricing scheme and business model. When the company was founded in 2011, a MoviePass subscription cost about $40 a month. Later MoviePass decided to attract a mass audience by slashing the monthly subscription rate by $30 and matching the price of streaming services like Netflix and Hulu. MoviePass typically paid theaters the full cost of tickets for its members, which in many places would have exceeded the monthly membership fee.