Say It Isn't So: MoviePass is Losing Hundreds of Millions

Say It Isn't So: MoviePass is Losing Hundreds of Millions

At this rate our $10 a month unlimited movie deal could be over very soon. That means paying full price (roughly $17), to see all the new movie releases of your dreams. You'll be broke and back to Netflix in no time!

Why? Because while MoviePass recently revealed the catch we were all waiting to uncover (it sells all of our data, tracking our heading to and out of a movie and possibly beyond) even that might not be rustling up enough buyers to keep the company afloat. Especially given it lost $150,000,000 last year.

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Essentially, MoviePass needs everyone in America to get on board to make back the cash and hopefully get in bed with big theater chains. How it's been working so far is that the company buys a movie ticket from the cinema to the movie of your choice for full price, and you keep on paying your sweet $100 per year for as many as you want to see.

Auditors weighing in claim the magnitude of the loss "raises substantial doubt about the company's ability to continue as a going concern." However, the company as assuredVariety they will not only be able to raise enough money to keep afloat, but their 2019 cash flow will be looking a lot sweeter with ad sales and buyers of data.

Frankly they can take all my data if I can keep the $10-a-month movies. Never let me go, MoviePass.

Image via MoviePass