MoviePass, a movie ticket purchasing app that went belly up back in 2019, is coming back later this year.
confirmed that MoviePass will return this summer via a new app that will feature tiered plans operating off web3 technology with a payment system involving the use of digital credits.
According to the same report, the new plan allows theaters partnered with MoviePass to set different peak and off-peak prices as well as check out the most-watched movies at the moment. There's no information available about how the cost of Movie Pass, but the service will reportedly offer premium-level users partial ownership of the company.
Founded in 2011, MoviePass encountered several challenges such as pushback from theater chains and also some of those very same theaters creating their own competing apps. The service would peak in 2017 following the Helios and Matheson acquisition after the new owners ushered in the MoviePass unlimited plan. Unfortunately, MoviePass' inconsistent and ever-shifting pricing, as well as terms of service, eventually forced the record-number users out. By 2019, MoviePass announced that it would shut down its services permanently.
