Remember the last decade’s epic failure that was MoviePass? Co-founder Stacy Spikes sure does, but he thinks he can get it right this time.
Founded in 2011 by Spikes and Hamet Watt, MoviePass was supposed to completely disrupt the movie-going experience by offering a subscription. For $50 a month, users could go to one movie of their choice every day, at any location. Things really took off in 2017 when that price went down to $10, before going out in spectacular fashion in 2019 for a long list of reasons that may or may not include defrauding users.
Spikes, however, still sees light at the end of the tunnel. He confirmed to Insider this week that he bought MoviePass out of bankruptcy on Wednesday and is seriously considering a relaunch. “We are thrilled to have [MoviePass] back and are exploring the possibility of relaunching soon. Our pursuit to reclaim the brand was encouraged by the continued interest from the movie-going community. We believe, if done properly, theatrical subscription can play an instrumental role in lifting movie-going attendance to new heights,” he said.
