Yes

data-mining what?

At 3 movies a month they are losing $40/month on me. Not sure what data could be worth that much.

bloomberg article

MoviePass Backer Plunges After Warning Service May Not Make It

By Anousha Sakoui
October 11, 2017, 4:01 PM PDT October 12, 2017, 7:18 AM PDT

Good idea but horrible execution, HMNY is toast. Some really strong box office runs during its time building up its user base, I think flex pricing is a compromise the theaters need to consider (beyond the usual matinee/weekend/holidays rates) similar to what sports teams/theme parks are now doing. There are ways to leverage their data and get more people in the doors outside of a service that is "unlimited," AMC reported record earnings so I no doubt think this has benefited concession sales.

Terrible idea and terrible execution (not even preventing fraud from day 1 for example). You may as well buy cars at full price and sell them at half price.

Certainly moviegoers are willing to share their data in exchange for discounts on tickets, but I think MoviePass is vastly overestimating how much that data is worth and underestimating how many people will watch 4+ movies a month when tickets are free.

I think what they overestimated was their leverage over theatre chains

A more viable system would be a program where you upload a receipt of your ticket and get a discount of some kind. Maybe not the full price of the ticket.

That's where the execution part comes in, how do you launch a business like this and not have a solid plan when your user base hits certain benchmarks? It's as if they were just winging it hoping that the theaters would cave and partner with them. There clearly is demand for a subscription option when it comes to going to the movies, will the chains make any changes going forward especially after Moviepass goes under? Maybe they will claim it validates their current model but personally I think (as I said above), there are ways to leverage the data they already have to offer more efficient pricing & perks to people who want to go more often but not pay full price each showing. The problem with Hollywood/the studios is they don't want the system to change given how much (80-90%) they take in from every ticket.

What happens if they go out of business and can't pay out for the remainder of people's contracts? We all form a class action suit and get pennies on the dollar?

credit card refund

Why didn't they negotiate with the movie theaters especially for off-peak hours. Also, they should have made the "free" movie contingent on spending $10 or more on concessions.

Drive people to the highest margin revenue stream. Take advantage of people falling for false savings.

They were exclusively focused on selling the data with no backup plan. I guess they wanted to get to X users and hold it over the theaters' heads but the amount of capital required to acquire that many customers is absurd. They could have bought more time with a better business plan.

Selling user data was just what they told to the public. They wanted to gain a significant portion of movie going public and force movie theaters to give a % of concessions. For a few weeks they stopped MP subscribers from buying tickets in a few locations in NYC probably to see if the movie theaters would blink.

MP also wanted to approach movie studios at some point and get them to pony up money to have MP drive audiences to their movies.

Supposedly the above 2 worked in some other parts of the world, but I don't know the details.

And it’s gone

bad team team, weak tech

Seems weird that it would just drop 50% as a reaction to its reverse stock split

It was fun while it lasted.

rut-roh

aaaand the changes continue

People are still buying this garbage stock not realizing that their (already worth almost nothing) shares are diluted to nothing within hours.

Almost zero now, and it probably remains there. The data is worth something, and probably a decent amount, but shareholders have no shot. Looks like implosion and down in flames, as the industry does not want, nor need them. They did help show the industry a new model though, with the shareholders of HMNY paying for it all. Pretty sick.

A 'new'model that the industry said would go bankrupt from the beginning.