Is MoviePass Still Around? Stacy Spikes’ Return & Plans For The Company Explained

Summary MoviePass rose to fame with $9.95 monthly subscriptions, but faced bankruptcy by 2020 due to major financial issues.

Founder Stacy Spikes, fired in 2018, regained ownership in 2021 and relaunched under new subscription tiers in 2022.

The new 2024 MoviePass model offers tiered pricing based on credits, with plans ranging from $10 to $40 and covering 4000+ theaters.

The new HBO documentary MoviePass, MovieCrash takes a deep dive into the rise and fall of the movie ticket theater service that became a phenomenon. MoviePass originated in 2011 and initially allowed its subscribers to purchase up to one ticket per day through a monthly subscription fee. Aiming to be the Netflix of the movie ticket service industry, MoviePass gained massive popularity in 2017 when its monthly subscription cost dropped to a remarkable $9.95 USD. This essentially made it possible for subscribers to see as many movies as they wanted for less than the cost of one ticket.

Because of the too-goo-to-be-true price of the monthly subscription, MoviePass quickly generated more than 3 million subscribers by June 2018. The new HBO documentary MoviePass, MovieCrash looks into the behind-the-scenes realities of the people directly responsible for MoviePass's booming success during that time, specifically the impact of founder and CEO Stacy Spikes, who was fired in 2018 and relaunched the service in 2022. Ultimately, the rapid success of MoviePass ended as quickly as it had started. By January 2020, the company filed for bankruptcy for financial issues that were not related to the COVID-19 pandemic.

Original Co-Founder Stacy Spikes Relaunched MoviePass In 2022

Spikes was approved ownership in 2021 by a bankruptcy court

As chronicled in the new HBO documentary film MoviePass, MovieCrash, which was released on May 29, 2024, the original co-founder of MoviePass Stacy Spikes was approved ownership of his former company in 2021. Spikes was not involved in MoviePass when it soared to new heights in 2018 before crashing and burning soon after, having been fired by New York-based data analytics company Helios and Matheson Analytics (HMNY). HMNY was responsible for lowering the monthly subscription price to $9.95 USD and reached as low as $6.95 USD for annual subscribers.

Considering that the average cost of a movie ticket today at a major theater chain can be anywhere from $14 to $20 USD, an unlimited subscription that costs less than the price of one ticket immediately raises the question of how this was sustainable. The reality quickly came crashing down on the new owners of MoviePass, who made several adjustments in their subscription model to try and keep the company afloat. MoviePass briefly tried to change the monthly rate to $14.95, set parameters on how many movies could be seen in one month, and even limited MoviePass to specific movies. They lost one million subscribers by October 2018.

MoviePass' New Subscription Model Explained

MoviePass now offers $10, $20, $30, and $40 tiers

After Spikes regained control and ownership of the company in August 2022, he established a new MoviePass subscription model based on $10, $20, $30, and $40 tiers. Spikes launched a beta program in September of that year in Chicago, Dallas, and Kansas City, which expanded to include Atlanta, Houston, Indianapolis, Oklahoma City, and Tampa Bay in 2023. After the success of the new beta subscription model, MoviePass has reestablished itself as the largest movie theater subscription-based service. As of May 2024, MoviePass now covers more than 4000 theaters across the United States, which accounts for over 90% of all U.S. theaters.

Screening Time of Day MoviePass Credits Cost Weekday matinee 15 credits Weekday afternoon 15 credits Weekday evening 20 credits Weekend afternoon 25 credits Weekend evening 30 credits

All of the new MoviePass plans are priced for 2D standard screenings. This excludes IMAX, Dolby Digital, and XPlus screenings.

The four updated MoviePass tiers are all based on a credits system, with matinee screen times costing fewer credits than weekend evening showings. For example, on MoviePass, a weekday evening showing goes for 20 credits, while a weekend evening will cost you 30 credits. Similarly to actual ticket prices, the total cost of credits for any given movie is based on its showtime. The most basic $10 plan offers subscribers 34 credits per month, which would be nearly eaten up by one weekend evening movie. The "Pro" $40 monthly offers subscribers 640 credits and is advertised as the "1 movie per day" deal, but not all of those movies can be seen on weekend evenings.

MoviePass General Plan Monthly Cost Estimated Movie Count Total Monthly Credits Basic $10 1–3/month 34 Standard $20 3–7/month 72 Premium $30 5–11/month 113 Pro $40 30/month 640

MoviePass's Southern California and New York City plans start at $20. Each plan is $10 more than their general pricing.

What Stacy Spikes Has Said About Relaunching MoviePass

Spikes was inspired by Steve Jobs and Michael Dell

Spikes offers his fascinating perspective on the whole MoviePass debacle in the new HBO documentary film MoviePass, MovieCrash. He discusses how he was drawn to the opportunity of leading MoviePass in the right direction after it went to auction in August 2022. "People kept talking about MoviePass. Like, maybe one day this thing can come back. I was always inspired by stories like Steve Jobs leaving Apple and coming back. I was inspired by Michael Dell leaving Dell Computers and him coming back. I'd never live with myself if I didn't try." Under the established leadership of Spikes, the revamped MoviePass could provide a much-needed boost to the 2024 box office.