In a July 3 tweet, the company announced that service would be temporarily shut down starting at 5 A.M. ET on July 4, according to Variety, but not because they’re out of money, just because the app isn’t very good:
“MoviePass said it put the service on hiatus starting at 5 a.m. ET on July 4. The company said the suspension is due to “maintenance-related issues.” It didn’t provide details on what the problems are or how the new MoviePass app will be enhanced.
“Once we have resolved these technical problems, the service will be live again. We estimate this process will take several weeks,” MoviePass said in a tweet Wednesday.”
That’s reassuring and sounds entirely plausible, considering the company also said it “plans to use this time to recapitalize in order to facilitate a seamless transition and improved subscriber experience once the service continues,” which sure sounds a lot like “Listen, we’re broke.”
Last year, the number of MoviePass subscribers dropped to 225,000 from over three million. Those who have stuck around won’t be charged for the service and will be “automatically credited for the number of affected days once the service continues.” MoviePass still loves you very much and promises to make this up to you soon, buddy.