MoviePass is almost back and you can sign up now to get on the waitlist – Aumag
MoviePass is back, so to speak. Starting today, you can join a waitlist to become a MoviePass subscriber, and if you want to, hurry because the waitlist is only open for five days. The new MoviePass is scheduled to launch around Labor Day, and its first users will be those at the top of the waiting list.
If you’re wondering what exactly this new MoviePass is supposed to be… join the club. This is the company that once promised every theater you could see $10 a month, only to quickly find out the business plan both infuriated theaters and set millions of dollars on fire. Things got so bad so quickly that Helios and Matheson Analytics, MoviePass’s parent company, filed for bankruptcy last year.
Stacy Spikes, an original MoviePass co-founder, bought the company back in late 2021 and has been working on a reboot ever since. Well, as first reported by insider, the MoviePass subscription costs $10, $20, or $30 a month depending on where you live, and gives you access to a set number of movies each month — there’s no unlimited version, at least not yet. (Gavin Skillman, a spokesman for MoviePass, declined to give further details, but confirmed it insider Story.) You can still use a MoviePass debit card to get into any movie theater or use the MoviePass app, and in a nice new twist, you can use your credits to bring friends to the movies. Apparently, if you were a former MoviePass customer, you’ll also get some “free bonus credits,” but no word on exactly how much just yet.
So far everything is very vague. All we know for sure is that you can watch some movies for one price. But there are plenty of other clues as to what Spikes & Co. can do up to. First, Spikes also created another company, PreShow, which uses attention-tracking software to make sure you’re watching an ad and then rewards you with credits (or movie tickets, in this case). Spikes has also spoken about the new MoviePass being “powered by Web3 technology,” although that doesn’t seem to mean much at the moment. Spikes, probably feeling burned by MoviePass’ previous grow-at-any-cost mentality, vowed to run the new MoviePass as a co-op.
The cinema industry has also changed dramatically since the death of MoviePass. Theater chain Cineworld is facing bankruptcy, and business for AMC, IMAX and other theater companies has been grim in recent years thanks to the pandemic and the general shift to streaming services. (AMC was only saved by its meme stock status.) But a few more recent hits, e.g Top Gun Maverick, gives cinemas a glimmer of hope that moviegoers might become moviegoers again. Will they share their increasingly hard-earned box office earnings with MoviePass?
An all-you-can-watch movie subscription always seemed like a good idea to consumers – for a while it was too good to be true. It’ll be a while to see if Spikes can get it right the second time around, but if you want a ride you’ll quickly be put on the waiting list. And bring some popcorn.