MoviePass Has a New “Plan for Profitability” but it Probably Won’t Work
Future of MoviePass Is in Doubt After Service Outage, Experts Say
August 17, 2018
Here’s What All of MoviePass’s Recent Problems Could Mean for You
August 17, 2018
This article originally appeared in Fast Company (Written by Cale Weissman) on July 31, 2018
MoviePass is currently in a free fall. Its parent company, Helios and Matheson Analytics, just hit a depressing stock low of 71 cents a share as money woes and negative headlines continue to pummel it. Last week, MoviePass had to borrow an emergency $5 million to keep the service available to subscribers, and now it’s beginning to make certain popular films unavailable to its user base.
This morning, MoviePass announced it has a new strategy going forward, a “plan for profitability” that revolves around significantly cutting costs. Among other things, the company says it plans to slash its monthly burn by 60%. The question is: Will it be enough?
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