It’s no secret that MoviePass is facing an uncertain future — but, what does that mean for its customers?
The popular, but frequently troubled, start-up movie ticket subscription service announced a new higher pricing model Tuesday, as well as blackout time periods for some new release films. This came after customers were temporarily unable to use the service on Monday and on Thursday, reportedly because the company was short on money to pay theaters for the tickets its customers were trying to reserve. Parent company Helios and Matheson was forced to take out a $5 million emergency loan to ensure that MoviePass could afford to keep processing payments going forward, the company said in an SEC filing on Friday. MoviePass initially blamed the problem on “technical issues” in posts on Twitter last week.
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