MoviePass Is Coming Back -- but Why?
I'm sure you remember MoviePass. The subscription-based service would let you pop in at the local theater for one screening a day, at the extremely low price of $10 per month. The business was acquired in 2017 by a small data-focused company named Helios and Matheson Analytics, which never figured out how to make money from this unique idea. Seventeen months later, Helios and Matheson filed for bankruptcy, and MoviePass disappeared.
Well, it's back from the dead.
Co-founder Stacy Spikes has bought MoviePass -- the company that fired him -- out of bankruptcy, presumably for pennies on the dollar. One might wonder why Spikes wants to resurrect an utterly failed business model. Let's take a look at what MoviePass 2.0 hopes to accomplish in 2022.
Source Fool.com
