Film lovers have been mourning the demise of MoviePass, a service that allowed users to pay reduced prices for movie tickets. The service has had some problems in the past, so people aren't exactly surprised that it's struggling.
The service stopped working on Friday, and it came to light that the business had literally run out of money. Things were back up and running as of Monday, but to call the selections "limited" is being generous.
Know what else is being generous? Twitter, now that the inevitable roasting has begun. Enjoy the memes, my friends.
Savor them the way we savored our MoviePass service for its brief-but-glorious run.
Even companies joined in!
So how did things go so wrong? It seems the business model wasn't sustainable to begin with. MoviePass didn't work out any sort of business-to-business discounted rate for these movie tickets, so they were paying full price. Users were charged a monthly subscription fee that, in some cases, was less than the cost of ONE movie ticket — much less than the several tickets per month that users were entitled to.
Twitter went in on that, too.
If you don't respect MoviePass's willingness to light money on fire so people could see all those movies then you have no soul— Robert Wheel (@BobbyBigWheel) July 30, 2018
I relate to Moviepass in that I am a disappointment that is hemorrhaging money.— Kevin Nguyen (@knguyen) July 31, 2018
RIP to MoviePass, a great socialist scheme accidentally implemented by very confused capitalists— Zach Schonfeld (@zzzzaaaacccchhh) July 30, 2018
Let this be said about MoviePass: a bunch of people got to see movies for practically nothing because somebody successfully ripped off a bunch of venture capitalist paypigs. That's kind of beautiful.— Kaleb Horton (@kalebhorton) July 30, 2018
im late to eulogize but moviepass was good because it was so plainly a bad idea and the people who ultimately got fucked over the worst by it are the investors/owners of the faceless big data co that owns it. to a normal person, using moviepass was the ultimate victimless grift.— maya kosoff (@mekosoff) July 31, 2018
There is talk about MoviePass increasing subscription fees and further limiting available showings in order to try and stay afloat. We'll keep you updated!