MoviePass seemed like it was too good to be true and, it turns out, it was.
The company announced Friday that it would shut down Saturday.
MoviePass, for those who don’t remember the salad days of 2017 and 2018, was the debit card that got you into almost unlimited first-run movies at basically any theater for $10 a month.
It was a wild time for movie lovers and even casual movie-likers, but, it turned out the business model of charging customers $10 a month and then paying full price for their tickets didn’t pencil out.
The app and company tried to make the whole thing work by instituting changes to their terms of service and restricting what movies users could go to, but none of it was enough.
“Over the past several months,” reads a message on the MoviePass website, “MoviePass™ worked hard to relaunch its groundbreaking subscription service and recapitalize the company. While we were able to relaunch the service for some of our subscribers with an improved technology platform, our efforts to recapitalize the company have not been successful to date.”
The end result, according to MoviePass, is that, “effective at 8 a.m. E.T. on September 14, 2019, we must interrupt service for all current MoviePass™ subscribers.”
Subscribers will get the appropriate refunds, the company said, adding, “At this point, we are unable to predict if or when the MoviePass™ service will continue.”
As the MoviePass glory days moved into legend, other frequent viewer programs from theater chains like Cinemark and Regal were created to give people who want to see multiple movies a month a little bit of a deal. But since those companies are all interested in making money, nothing like that epic deal — $10 for all the movies you can watch in a month — will likely be seen again.