Business
How 2 Million People Loved MoviePass Nearly to Death
Moviegoers adore it. Multiplexes hate it. Now the company might not have enough money to make it through summer.
Illustration: Joe Melhuish for Bloomberg Businessweek
Hannah Wolfe became a MoviePass Inc. member, hit the pricey theaters of New York, and began doing her part to drive the company out of business.
Since paying the $9.95 monthly fee for the movie-a-day service in January, Wolfe has seen Black Panther and most of the Academy of Motion Picture Arts and Sciences’ Best Picture nominees. Twelve films in total, at no additional cost to her. “It seemed a little too good to be true, especially in New York where movies cost like $16 each,” she says. “It feels like I haven’t paid for the ticket.”