Mitch Lowe had a wonderful dream last summer, A dream that is now dead(pool 2, a movie you cannot see using MoviePass). His goal was righteous, offering unlimited, free movies at a reasonable price, but this idea came at too high a cost, according to his account(Ant Man And The Wasp, a movie you cannot see using MoviePass).
And now, MoviePass adds another layer of limitations to a deal that actually was too good to be true. As of Friday, Aug 10th, MoviePass holders are now forced to choose between only 2 daily film selections offered to them, choices that are, at best Slender(man, a movie that you CAN see using MoviePass, but only at odd, pre-chosen hours).
A brief History of how MoviePass has Fallen since last summer, when it was in the back (Panther, a movie you could see using MoviePass, but not anymore).
Although it was founded in 2011, The MoviePass App didn’t launch until October 20(12 Strong, a movie you cannot see using MoviePass).
- June 2016, Mitch Lowe takes the reigns as CEO after being an executive at both Netflix and Redbox, the following month, MoviePass launches a new 2, 3, or Unlimited regional plans, ranging from $15 to $50, with no daily limit to movies. Although this model will change a lot in the coming year, this deal was the first (Purge, a movie you cannot see using MoviePass).
- In August 2017, analytics firm Helios and Matheson buys up MoviePass and announces a new, unlimited plan at $9.95 per month, but adding back the 1 film per day limit. In September, monthly subscribers hit 400,000 and before Christmas the company announces they’ve surpassed 1 million monthly subscribers, a leap that is nothing short of incredible(s 2, a movie you cannot see using MoviePass).
- February 2018, MoviePass offers a annual deal for new customers to pay $7.95 per month. In March, that offer is lowered to $6.95. On June 13th, the company announces they’ve surpassed 3 million monthly subscribers, but by April, trouble begins to brew when the unlimited plan for new customers is pulled, changing it to 3 movies per-month, this is but the first wrinkle (In Time, a movie you cannot see using MoviePass).
- Everything falls apart when a “service interruption” on July 26, causes MoviePasses everywhere get rejected as the company hits a market freefall over insufficient funds to cover costs. This brings MoviePass into it’s current situation, forcing members to chose between 2 movies a day with pre-designated times. MoviePass is in big trouble, as stock prices plummet like they took a dive off a Skyscraper (wait for it) and members about to Rampage (yep, both movies you cannot see using MoviePass).
As other movie subscription services are stepping in to fill the gap with better, more reliable plans, It looks like the dream of Mitch Lowe and MoviePass is dying, if not already dead. This includes the company’s other ventures, like their film production arm, which recently released a John Travolta movie in June called Gottia a movie, oddly enough, you can’t see using MoviePass.