If you were ever a subscriber to MoviePass, hopefully you used the hell out of it because it sounds like the whole thing's about to go kaput. Also, if/because you used the hell out of it, you probably should've seen this (or something like it) coming.
According to Business Insider, a source who would be familiar with such a development reported that company CEO Mitch Lowe said that subscribers wouldn't be able to see Christopher Robin or The Meg (the two biggest releases hitting theaters in the next two weeks) using the app. Lowe also is said to have implied that not giving tickets to big releases would be the policy for the foreseeable future. This announcement comes on the heels of subscribers being unable to get tickets for this past weekend's blockbuster release of Mission: Impossible — Fallout because the company had run out of cash. They subsequently had to borrow $5 million to get the service back online.
Obviously the move is not arbitrary, and in fact comes as the company faces very public struggles over their inability to turn a profit. This latest (bad) news comes just days after Lowe sent out an open letter. "As we continue to evolve the service, certain movies may not always be available in every theater on our platform," Lowe wrote.
Lowe continued, "This is no different than other in-home streaming options that often don’t carry the latest shows or movies that may be available on other services. For example, you can’t ever find Game of Thrones on Netflix, nor is Season 4 of Schitt’s Creek available there yet. Here at MoviePass, we have strived to make every movie in theaters available to you as part of your subscription, and Peak Pricing has allowed – and will continue to allow – us to do so."
Let's see how this plays out.
