MoviePass is back?
Movie theatre subscription app MoviePass is being relaunched by its previous co-founder Stacy Spikes. The company shut down in Sept. 2019 after struggling with costs, experiencing service disruptions, and limiting users to three movies per month from a list of films.
In 2021, MoviePass settled with the Federal Trade Commission after allegedly deceiving customers by exposing user data and limiting app usage, including removing 75,000 active members for supposed suspicious activity.
In Nov. 2021, Spikes purchased the company's remaining assets.
The new service is expected to launch "on or around" Sept. 5. It plans to have three subscription tiers for credits toward movies, comprising of $10, $20, and $30.
In 2021, Spikes launched PreShow Interactive, which lets users earn in-game currency for up to 20,000 games in exchange for watching ads. PreShow raised $3M led by Harlem Capital, with participation from Canaan Partners, ROC Fund, and Wavemaker Ventures, among others.