Over two years after MoviePass went into bankruptcy, the subscription movie ticket service is eying a comeback. Via Deadline, MoviePass co-founder Stacy Spikes made the announcement this morning that MoviePass 2.0 is coming this summer. Spikes revealed that a new MoviePass app is in development, but there were no details on price. Instead, he indicated that there will be tier pricing this time, instead of the single package pricing offered by the original MoviePass.
In 2017, MoviePass made a big splash by announcing a subscription plan that allowed users to see one movie a day for $9.95 a month. Part of the company’s model was based on selling info about its users. However, demand was so high that MoviePass’s financial capabilities were pushed to the breaking point. The subscription service was shut down months before the company entered Chapter 7 bankruptcy in January 2020.
Spikes had already been forced out of the company before that time. Regardless, he and his business partners purchased MoviePass’ assets in late 2021. According to Spikes, several of MoviePass’ former employees have also been rehired to work on the relaunch. And during the press event, Spikes asked members of the media to try out the new service for free in exchange for their feedback.
“We’re not going to get it right out of the box,” said Spikes. “It’s going to be trial and error. But if you guys can help us build a marketplace, we really think we can take this places.”
During his presentation, Spikes indicated that MoviePass plans to enter partnerships with Alamo Drafthouse and Angelika Cinemas. However, larger theater chains like AMC and Regal were not included in the slideshow. AMC already has its own movie subscription package, which was created in response to MoviePass’ popularity.
Spikes also indicated that the new MoviePass will have Web3 capability to prevent it from being overwhelmed by traffic. That was a frequent problem with the previous MoviePass.
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