Remember MoviePass, the paid membership service that offered its subscribers access to an infinite number of movies each month but disappeared three years ago amid a flurry of operational and technical problems?
Well, MoviePass is returning, much like a revived 1990s television show.
According to a Business Insider article, MoviePass plans to launch its beta version on Labor Day and will offer three different monthly subscription prices of $10, $20, and $30. Stacy Spikes, the creator of the original MoviePass, will serve as the company’s CEO. She bought the business and its technological assets after its parent company, Helios and Matheson Analytics, halted operations following the filing for Chapter 7 bankruptcy in January 2020.
On August 25, Thursday, at 9 a.m. ET, a line will open up on the moviepass.com website for anyone who wants to sign up for the new MoviePass website. After the queue is open for five days, members can be added to it on a first-come, first-served basis.
Instead of providing an option for limitless movie viewing, the beta version of MoviePass will allocate customers a certain number of credits based on their subscription level.
AMC Entertainment Holdings (NYSE:AMC) shares were volatile on Monday as the new preferred class of shares for the operator of the cinema chain launched under the ticker symbol and label APE (APE).
In the meantime, competing movie-theater operator Cineworld (OTCPK:CNNWF), which is the owner of the Regal chain in the US, has declared it will seek Chapter 11 bankruptcy protection.
Spikes and Hamet Watt developed MoviePass, a service that allowed moviegoers to watch a specific amount of films each month in theaters for a monthly charge. After years of fighting to survive, the business was acquired by HMNY in 2017.
The business introduced a $10 monthly subscription fee to see a movie every day under the direction of HMNY CEO Ted Farnsworth and new MoviePass CEO Mitch Lowe. Subscriptions increased from 20,000 to 100,000 in just two days. More than 3 million people had signed up for MoviePass in less than a year.
Featured Image : Megapixl © Andreistanescu
Author Jowi Kwasu 
