MoviePass Ran Out Of Money To Pay For Movie Tix
MoviePass ran out of money Thursday to pay for people's admission. The subscription that let you see a movie every day couldn't honor it's part of the deal. It ran out of cash.
MoviePass borrowed $5 million today (Friday) to pay it's debtors. Things aren't good for the service that seemed too good to be true (pay $10 a month and see a movie everyday).
The company said in a tweet:
MoviePass stock prices tanked Friday. So if you have the service, good luck.
Even if they pull themselves out of this money mess. Many believe they're actually ruining the movie business. And that's not good.