MoviePass Has a New “Plan for Profitability” but it Probably Won’t Work

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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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