Co-founder claims that MoviePass is relaunching this summer

Co-founder Stacy Spikes unveiled the new iteration of MoviePass earlier this week, but the details are sketchy, to say the least.

MoviePass, a movie ticket purchasing app that went belly up back in 2019, is coming back later this year.

Many are describing MoviePass' attempt to return as both ill-timed and ill-advised.

CNET 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.

It will be difficult to imagine MoviePass succeeding in its return, but it wouldn't be for the lack of trying. In addition to what we've already mentioned, MoviePass will add PreShow as well, which is an ad-based platform where users can watch ads to earn credits. Although watch-to-earn schemes are nothing new, MoviePass' attempt is already generating discussion. For one, audiences are already uncomfortable with its use of facial detection technology that will use the front-facing camera on users to check if they are watching the ads or not.

If MoviePass can learn from its inconsistency in the past, it stands a good shot at succeeding in a market that's more open to play-to-earn schemes.

Only time will tell if MoviePass' attempt to return is going to be successful or not, but it is ambitious, to say the least. MoviePass claims that it wants to corner at least 30% of the theater industry by 2030.

In other news, Paramount Pictures have posted two consecutive months of excellent box office showings. In January, the Scream reboot became the first film to unseat Spider-Man: No Way Home from the top of the local box office in its debut. Then, a month later, Jackass: Forever did the same when it burst into theaters. Speaking of, No Way Home is on track to do $1.8 billion at the global box office as it becomes the sixth-highest grossing film of all time.

Ray Ampoloquio
Ray is a lifelong gamer with a nose for keeping up with the latest news in and out of the gaming industry. When he's not reading, writing, editing, and playing video games, he builds and repairs computers in his spare time. You can find Ray on Twitter.
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