“It was a contributor to the specialty box office, and I hope it will be again,” says Laemmle CEO Greg Laemmle of MoviePass, the subscription service that unsurprisingly went bankrupt in early 2020 after offering a movie a day for ten bucks a month.
A co-founder Stacy Spikes, who was pushed out amid strategic differences with new owners, including the $9.95 plan, acquired the assets out of bankruptcy in 2021.
He relaunched MoviePass yesterday after months of beta testing. The movie-a-day-plan, which left the service subsidizing most tickets, “was never going to work,” Sikes tells Deadline.
AMC had actually threatened to sue, saying the plan wasn’t sustainable and set consumers up “for ultimate disappointment down the road.” Its bankruptcy filing listed more than 12,000 subscribers it may have owned money to.Read more on deadline.com
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