Movies and TV Over/Under on MoviePass going bankrupt

Spott · 07-28-2018, 09:54 AM

It was great while it lasted, but I'm giving them until Halloween before they call it quits.

RINGLEADER · 07-28-2018, 10:25 AM

I’ll be surprised if they make it through August. The interviews with their CEO are borderline delusional and their attempts to buy production companies and invest in movies made no sense. They’re not going to reach the critical mass to be able to influence enough movie going to force the theaters to negotiate lower prices (the Netflix model).

Spott · 07-28-2018, 11:34 AM

Quote:

Originally Posted by RINGLEADER

I’ll be surprised if they make it through August. The interviews with their CEO are borderline delusional and their attempts to buy production companies and invest in movies made no sense. They’re not going to reach the critical mass to be able to influence enough movie going to force the theaters to negotiate lower prices (the Netflix model).

I purchased the annual pass back in April and have seen 11 movies with it s. I far. With the changes they made yesterday, my only way of seeing any new releases is to purchase tickets to a less popular movie and then go into the theater that is playing the movie I want to see. If I were paying month to month I would probably consider canceling their service.

If I had to guess, MP was also banking on most of their customers buying the membership and rarely seeing movies.

**BigRedChief** · 07-28-2018, 02:04 PM

The business model is doomed from the start. Why wouldn’t the big chains just do this on their own? Cutting out the middleman and keep the money is a perfect idea for a huge corporation.

AMC was already all over this concept before MoviePass launched. Luckily Netflix is already estaished or the studios would have crushed it like a bug.

RINGLEADER · 07-29-2018, 05:34 PM

Quote:

Originally Posted by BigRedChief

The business model is doomed from the start. Why wouldn’t the big chains just do this on their own? Cutting out the middleman and keep the money is a perfect idea for a huge corporation.

AMC was already all over this concept before MoviePass launched. Luckily Netflix is already estaished or the studios would have crushed it like a bug.

Netflix lucked out when home video started to dry up. They just couldn’t help themselves or turn away from the extra check and ended up creating a monster.

Fish · 07-29-2018, 12:49 AM

Moviepass Blocking Users from Watching Mission: Impossible—Fallout This Weekend

Things appear to be going from bad to worse for MoviePass. The subscription service had to shut down operations this past Thursday because it ran out of money, and to avoid the same thing from happening twice, it is blacking out all of its customers from watching one of the biggest summer blockbusters: Mission: Impossible – Fallout.

On Thursday night, MoviePass users experienced an issue that prevented them from using the app. It was later revealed that MoviePass had run out of money, so it completely suspended service. By Friday morning, it had secured a $6.2 million loan to continue services but not before blocking users from watching Mission: Impossible – Fallout during its debut weekend.

The option to pay for surge pricing is not even available for users who want to watch the movie.

Making matters worse, just about every movie time past 11 a.m. at any theater has surge pricing. It has been confirmed by multiple users that any movie with surge pricing will cost an additional $6. Prior to the money woes MoviePass ran into this week, surge pricing came in around $2 to $4.

[...]

**007** · 07-29-2018, 08:39 PM

Wife tried to use moviepass tonight and for the third time it wouldn't let her check in. They never did refund her first two tickets and we all know they won't refund this one. Great idea that soured fast.

Spott · 07-30-2018, 06:51 AM

Quote:

Originally Posted by 007

Wife tried to use moviepass tonight and for the third time it wouldn't let her check in. They never did refund her first two tickets and we all know they won't refund this one. Great idea that soured fast.

They blacked out every movie where I live on Friday and Saturday so I couldn’t buy a ticket to anything. The metro area has 12 theaters yet all were supposedly “too busy”. I prepaid for a year back in April so I guess I am stuck with the membership until then, but it looks like I’ll be paying for my movies from now on.

**007** · 07-30-2018, 08:28 PM

Quote:

Originally Posted by Spott

They blacked out every movie where I live on Friday and Saturday so I couldn’t buy a ticket to anything. The metro area has 12 theaters yet all were supposedly “too busy”. I prepaid for a year back in April so I guess I am stuck with the membership until then, but it looks like I’ll be paying for my movies from now on.

The app shows no movies at all for us now. Click on a theater and it said no showings available and listed no movies.

Chazno · 07-30-2018, 07:13 AM

A friend of mine used it to see Equalizer 2 on Saturday in KC. He used the e-ticket feature, not the card.

Deberg_1990 · 07-30-2018, 07:32 AM

I hope it survives in some form or another? Havent some of the theater companies started their own version of it?

I think it helps drives more business/trips to a theater. People are more willing to take a chance on lesser known movies with lower budgets.

Sure-Oz · 07-30-2018, 10:36 AM

Quote:

Originally Posted by Deberg_1990

I hope it survives in some form or another? Havent some of the theater companies started their own version of it?

I think it helps drives more business/trips to a theater. People are more willing to take a chance on lesser known movies with lower budgets.

AMC started their own

**DaFace** · 07-30-2018, 08:34 PM

Literally losing money on every ticket sold didn't work out? What a surprise.

**Rausch** · 08-13-2018, 08:20 AM

Quote:

Originally Posted by DaFace

Literally losing money on every ticket sold didn't work out? What a surprise.

Apparently they were banking on the Amazon (lose money and go into debt to build the business/brand up) model in hopes of obtaining a legal monopoly on the service.

Yeah, that's a risky (and mostly doomed to fail) venture...

RINGLEADER · 08-18-2018, 08:12 PM

Quote:

Originally Posted by Rausch

Apparently they were banking on the Amazon (lose money and go into debt to build the business/brand up) model in hopes of obtaining a legal monopoly on the service.

Yeah, that's a risky (and mostly doomed to fail) venture...

Well the company is now worth less than $200,000. Less than 7 months ago it was worth almost $15 billion. That's got to be close to a record in market cap being wiped out.

At this point you could pay 10 times what the current market value is and still probably harvest the data and make money.

Hmmm.....

07-28-2018, 09:54 AM	Topic Starter
Spott Court Jester Join Date: Aug 2000 Location: Orlando Casino cash: $3172400	Over/Under on MoviePass going bankrupt It was great while it lasted, but I'm giving them until Halloween before they call it quits.
Posts: 19,688

07-28-2018, 10:25 AM	#2
RINGLEADER In Search of a Life Join Date: Dec 2001 Location: Confusion, USA Casino cash: $8620503	I’ll be surprised if they make it through August. The interviews with their CEO are borderline delusional and their attempts to buy production companies and invest in movies made no sense. They’re not going to reach the critical mass to be able to influence enough movie going to force the theaters to negotiate lower prices (the Netflix model).
Posts: 46,691

07-28-2018, 02:04 PM	#4
BigRedChief Has a particular set of skills Join Date: Dec 2003 Location: On the water Casino cash: $3229627 VARSITY	The business model is doomed from the start. Why wouldn’t the big chains just do this on their own? Cutting out the middleman and keep the money is a perfect idea for a huge corporation. AMC was already all over this concept before MoviePass launched. Luckily Netflix is already estaished or the studios would have crushed it like a bug. __________________ Fear leads to anger, anger leads to hate, hate leads to suffering. -YODA
Posts: 78,937

07-29-2018, 12:49 AM	#6
Fish Ain't no relax! Join Date: Sep 2005 Casino cash: $2368919	Moviepass Blocking Users from Watching Mission: Impossible—Fallout This Weekend Things appear to be going from bad to worse for MoviePass. The subscription service had to shut down operations this past Thursday because it ran out of money, and to avoid the same thing from happening twice, it is blacking out all of its customers from watching one of the biggest summer blockbusters: Mission: Impossible – Fallout. On Thursday night, MoviePass users experienced an issue that prevented them from using the app. It was later revealed that MoviePass had run out of money, so it completely suspended service. By Friday morning, it had secured a $6.2 million loan to continue services but not before blocking users from watching Mission: Impossible – Fallout during its debut weekend. The option to pay for surge pricing is not even available for users who want to watch the movie. Making matters worse, just about every movie time past 11 a.m. at any theater has surge pricing. It has been confirmed by multiple users that any movie with surge pricing will cost an additional $6. Prior to the money woes MoviePass ran into this week, surge pricing came in around $2 to $4. [...] __________________
Posts: 47,455

07-29-2018, 08:39 PM	#7
007 Shaken. Not stirred. Join Date: Sep 2002 Location: London Casino cash: $14060126 VARSITY	Wife tried to use moviepass tonight and for the third time it wouldn't let her check in. They never did refund her first two tickets and we all know they won't refund this one. Great idea that soured fast. __________________ My dear girl, there are some things that just aren’t done. Such as, drinking Dom Perignon ’53 above the temperature of 38 degrees Fahrenheit. That’s just as bad as listening to the Beatles without earmuffs.
Posts: 65,554

07-30-2018, 07:13 AM	#10
Chazno Starter Join Date: Nov 2004 Location: asdf Casino cash: $4517963	A friend of mine used it to see Equalizer 2 on Saturday in KC. He used the e-ticket feature, not the card.
Posts: 507

07-30-2018, 07:32 AM	#11
Deberg_1990 In Search of a Life Join Date: Jan 2004 Location: San Antonio Tx. Casino cash: $3914454	I hope it survives in some form or another? Havent some of the theater companies started their own version of it? I think it helps drives more business/trips to a theater. People are more willing to take a chance on lesser known movies with lower budgets. __________________ Originally Posted by Cassel's Reckoning: Matt once made a very nice play in Seattle where he spun away from a pass rusher and hit Bowe off his back foot for a first down. One of the best plays Matt has ever made.
Posts: 66,914

07-30-2018, 08:34 PM	#13
DaFace Kind of a mod Join Date: Aug 2005 Location: Donkey Land Casino cash: $2116899	Literally losing money on every ticket sold didn't work out? What a surprise.
Posts: 51,710