In brief: MoviePass, the sick-fated movie ticket subscription service that went bust after launching a membership programme that proved unsustainable, is planning a comeback. With the right strategy and business organization model, could MoviePass succeed the second time around?

The startup was founded in 2022 merely didn't make waves until mid-2017 when information technology slashed its monthly subscription rate to $9.95 per month. The plan allowed members to sentinel one movie per twenty-four hours at any theater in the US that accepted debit cards, which was pretty much all of them. 3D and IMAX screenings were excluded, but other than that, it was fair game, with no blackout dates to speak of.

It was an uncommonly skilful deal – too good, in fact. The visitor's concern model just wasn't sustainable and despite efforts to restructure and stay afloat, MoviePass and its parent visitor ultimately filed for Chapter 7 bankruptcy.

Now most 2 years afterwards, the outfit is staging a improvement.

Insider reports that co-founder Stacy Spikes was recently granted buying of the company by a Southern District of New York bankruptcy courtroom gauge. Spikes told the publication he was thrilled to have the asset back and is exploring the possibility of relaunching soon. Notably, previous customer information and e-mail addresses were not part of the sale.

Financial terms of the acquisition out of defalcation were not shared, although the new possessor said his bid was lower than the $250,000 minimum set past a trustee overseeing the bankruptcy.

Spikes has prepare up a new website for MoviePass where interested parties can register their email accost to be notified when the service launches, perchance as early on as next twelvemonth.

Image credit Erik Witsoe, Pixabay