After weeks of frantic ‘terms of services’ modifications, MoviePass seems to have finally landed on a viable business model. Indeed, as of today, the movie-ticketing giant’s subscribers can see any film they pay the full price of admission for.
The company, which at one point allowed its subscribers to go to the theater once a day to see any movie for a half-a-regular-ticket monthly fee, made the radical move to cut back on spectacular losses.
“We simply didn’t consider that someone would need to pay the theaters,” CEO Mitch Lowe said. “Much less that it would have to be us!”
With MoviePass’s situation stabilized, Lowe is embarking on a new business venture.
“We sell gold for its weight equivalent in bronze. People are going crazy over it.”