MoviePass is suffering an apparent slow death thanks in large part to its’ too-good-to-be-true unsustainable business model. That didn’t stop Twitter users from throwing salt in the ambitious and at times painfully cocky company’s huge wound.
Last week we reported on MoviePass’ app going down due to the company not paying its bills and having to basically take out a payday loan to keep the lights on. That move was only a bandaid as the company burned through the $5 million and blocked users from seeing the latest Tom Cruise action flick Mission Impossible: Fallout during its first weekend in theaters.
The latest developments forced MoviePass and its CEO to raise the $9.99 subscription fee to $14.95 for 30 days and block all Hollywood blockbusters from users for two weeks. The new measures implemented will reduce MoviePass’ cash burn by 60% according to parent company Helios and Matheson. As you can imagine subscribers are not feeling paying the new rate even if means it could help possibly save the service from death.
This is just a sad affair altogether and to think MoviePass opened its own wound when they made the radical move of dropping its subscription fee from $50 to $9.99. Personally speaking as a member, I will continue to root for the company due to the fact it introduces its users to other theaters besides big chains like AMC. Evidently, other users feel the same way as they contemplate or go through with the cancellation of their subscriptions.
Some subscribers have even gone as far as to ask billionaire Elon Musk to help save the app. Unfortunately, he must not be a movie fan, and he quickly shut that down.
It’s a sad day for movie aficionados who enjoyed being able to see a movie a day for $9.99. But hey we can still get these jokes off about the situation. Peep the gallery below for more hilarious fallout from the impending death of MoviePass.