It once blazed a trail in the movie theater subscription market with a monthly pass of only $9.99 to see a movie once a day. But Moviepass has recently encountered a number of struggles that have affected the way that they operate and how they are perceived.
From stories of horrific acts of customer service, increasing the cost of monthly subscriptions and temporarily shutting down due to being low on an operating budget.
After acquiring Moviepass less than a year ago, Helios and Matheson have announced that they are working on to separate Moviepass from its parent as its own holdings company. Moviepass will operate as Moviepass Entertainment
Ted Farnsworth, CEO of Helios and Matheson, released the following statement, “Since we acquired control of MoviePass in December 2017, HMNY largely has become synonymous with MoviePass in the public’s eye, leading us to believe that our shareholders and the market perception of HMNY might benefit from separating our movie-related assets from the rest of our company.”