This may be the end for MoviePass. Couple critical issues occured:

• Their reverse stock split died and just lead to more selling.
• They instituted premium pricing, which is roughly half the price of a ticket.
• You can't see movies like Mission Impossible: Fallout even if you pay the premium price.
• The service was unavailable at times.

I think this is the end. There are going to be a rash of cancellations, and they are burning through cash like crazy. At least I got more than my monies worth.

The Infamous Letter

Dear MoviePass Members,

First and foremost, I want to personally apologize to each of you for the inconsistencies and unreliability of our service over the past few days. Additionally, I regret our lack of proactive communication with you during this time; we are working hard to improve the communications to our community moving forward.

Over the last several days, we’ve begun making changes to our service that will help us continue to offer our members a high-value, low-cost, in-theater movie experience.

We believe that the company we have built — the fastest growing subscription company in history with more than 3 million members — has revolutionized the movie industry in the U.S. The first half of 2018 saw the total box office grow by almost 10 percent compared to last year, and we know MoviePass is responsible for a significant portion of that unprecedented growth.

In order to continue growing our service and maintaining a high level of financial discipline, we need to make some modifications:

We must reduce availability for big new-release titles, such as Mission: Impossible - Fallout and other popular new releases, at least for a while as we adjust the business model. We are working on making this more clear in the app so you know which titles are available.

Showtimes that are offered through our service will vary from day to day, and every showtime may not be available. We encourage you to check the MoviePass app for showtimes before you leave for the theater.

While our customer service team has made great strides of late, we still have a long way to go to provide the most responsive customer service experience for you. In the meantime, access to immediate support may become limited. However, we are working to prioritize the requests of members who are at the theater and introduce more self-help tools, as well as focus our resources on fixing glitches and bugs in the app.
Finally, we want to be as transparent as we can with these changes and any future changes. We are committed to giving you the best experience. We count on your support and loyalty while we implement these necessary steps for the company you’ve grown to love.

Thank you for your understanding and patience, and we’ll be in touch with more updates as we have them.

Mitch Lowe, CEO of MoviePass