MoviePass, which burned through hundreds of millions of dollars before shutting down amid lawsuits and an FTC complaint, may be getting a second act. Stacy Spikes, one of the co-founders of the the…
, one of the co-founders of the theater-subscription company that shut down in 2019, has acquired the assets of MoviePass in a bankruptcy proceeding. And he says he’s looking to relaunch the MoviePass service with new financial backers.
“I can confirm that we acquired MoviePass out of bankruptcy on Wednesday,” Spikes said in a statement to, which first reported the news. “We are thrilled to have it back and are exploring the possibility of relaunching soon. Our pursuit to reclaim the brand was encouraged by the continued interest from the moviegoing community. We believe, if done properly, theatrical subscription can play an instrumental role in lifting moviegoing attendance to new heights.
Founded in 2011, MoviePass was acquired by Helios and Matheson Analytics in 2017. Originally MoviePass launched with a one-movie-per-day plan for $30-$40 per month then cut that to the too-good-to-be-true $9.95 monthly for one movie per day. In a last-ditch effort to save itself, MoviePass in 2018 rolled out a refashioned “unlimited” option for $14.95 per month offering one movie daily but warning that movie choices would be restricted based on “system-wide capacity.
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