By Another week, another story on the slow, inevitable car crash that is MoviePass. Any moviegoer who was looking to use their MoviePass last Thursday night were frustrated to find that “technical issues” were preventing them from utilizing the service. It turns out that this outage happened because the company literally ran out of money. Per Business Insider, owner Helios and Matheson had to borrow more than $5 million from Hudson Bay Capital Management in an attempt to get the service up and running again.
Remember being a young ‘un and desperately asking your parents to borrow some cash because of your own unwise financial decisions? (This happened to me about a week ago.) That’s what happened here. I myself was one of these angry moviegoers just last night, receiving an error message as I strolled up to the Regal theater for Mission: Impossible—Fallout. Every so often, I will question whether or not MoviePass was a good decision for me; company financial issues aside, the service doesn’t exactly fit in with my lifestyle. But I eventually gave in and vented to the nice gentleman at the box office about this predicament. “Thanks for showing me your military ID,” the box office worker slyly told me, applying a slight discount. Companies may let you down, but individual people may save the day.
Tune in next week for what I assume will be another installment of “MoviePass Death Watch.” Maybe we should check out that AMC equivalent in the meanwhile.
The MoviePass outage was caused by the company temporarily running out of money, and it borrowed $5 million in cash to turn the service back on [Business Insider]