HBO's upcoming documentary MovieCrash delves into the tumultuous journey of MoviePass, the once-revolutionary movie subscription service. The film offers a compelling narrative of MoviePass' meteoric rise and subsequent downfall.
Revealing MoviePass' Journey to Bankruptcy
HBO's new documentary about MoviePass is a must-watch for anyone interested in tech mess-ups. It comes out on May 29 and is called MovieCrash."
The movie tells how MoviePass went from being super successful to crashing and burning. Directed by Muta'Ali and produced by Mark Wahlberg, it gives a behind-the-scenes look at MoviePass' rise and fall.
Upon its launch in 2011, MoviePass was hailed as a game-changer in the movie industry. The company quickly garnered attention for its disruptive business model. However, the company soon realized the challenges of applying an "all-you-can-eat" subscription approach to movie theaters, especially at such a low price point.
Within just eight years, Engadget reported that MoviePass transitioned from being the fastest-growing subscription service, similar to Spotify, to facing total bankruptcy. The documentary trailer will include interviews with key figures who played significant roles in the different phases of MoviePass.
Following a surge in subscribers when MoviePass slashed its monthly fee to $10 in 2017, the service was hailed as the "Netflix for movie theaters," drawing crowds to cinemas nationwide. However, the promising streak didn't last, as the company incurred massive losses, ultimately declaring bankruptcy in 2020. Its co-founder, Stacy Spikes, has since revived it.
Featuring Former CEOs, Consumers
In the interviews, we'll hear from Stacy Spikes, one of the original founders, and Mitch Lowe, who used to be the CEO. We'll also hear from reporters, government officials, and people who used MoviePass before.
The trailer also teases a funny story about someone sending poop to MoviePass, which sounds like it'll be a memorable part of the documentary.
Even if you miss the HBO premiere at 9 PM ET on May 29, you can still catch the documentary on Max whenever you want. Muta'Ali, the director, has made some great documentaries before, like "Yusuf Hawkins: Storm Over Brooklyn" and "Cassius X: Becoming Ali."
MoviePass shut down its services in 2019 and declared bankruptcy in 2020. During this time, there were allegations of wire fraud, securities fraud, and major data breaches, among other bizarre occurrences. In summary, it's a story ripe for documentary material.
Surprisingly, MoviePass has made a comeback. Co-founder Spikes has acquired the company's assets, attracted new investors, and relaunched the service. However, the revamped pricing structure, featuring credits and tiers, appears to be rather perplexing and hasn't replicated its initial success.
MoviePass is also making a comeback with a renewed vision, revamped offerings, and a steadfast commitment to bolstering the movie theater industry.
Subscribers now have the opportunity to indulge in up to 30 movies per month across a network of over 4,000 theaters nationwide. MoviePass aims to cater to diverse preferences by offering a range of subscription plans tailored to varying needs.
Related Article : MoviePass Makes a Comeback Along With New Subscription Plans
