Almost two years after MoviePass, he could be back. A New York court has granted co-founder Stacy Spikes ownership of the company, and Spikes hopes to return the service next year.
“We are thrilled to have it back and are exploring the possibility of a restart soon,” Spikes said . “Our aspiration to regain the brand is encouraged by the ongoing interest of the film community. We believe that, if done properly, a cinema subscription can play a key role in raising cinema attendance to new heights.”
Spikes said he offered less than $ 250,000 for the company, although the property does not include customer data or email addresses. It remains to be seen whether Spikes will get a new version from the field. For now, where people can sign up for updates.
Together with co-founder Hamet Watt, Spikes created MoviePass in 2011. The idea was basically a good one: for a monthly subscription, you can watch a certain number of movies in cinemas every month. Following the purchase of MoviePass in 2017, HMNY introduced a new pricing plan that for a time allowed members to watch the movie daily for only $ 10 a month.
The popularity of MoviePass, but the renewed business model proved unsustainable. The company burned hundreds of millions of dollars before it went bankrupt. A documentary series showing the rise and implosion of MoviePass.
, and among theater chains that have launched their own subscription plans in recent years, although Alamo’s. It is unclear how MoviePass will exist next to them and whether it will be developed in cinemas this time.
Meanwhile, as Stacy-Marie Ishmael from Bloomberg noticed, MoviePass is now a black-owned company again. If Spikes manages to revive it, MoviePass would become one of the more prominent black-owned companies in the United States.
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