MoviePass Has Service Interruption, Borrows $5M to Survive

MoviePass has experienced what its parent company Helios and Matheson Analytics is calling a “service interruption” after the company could not pay its bills. Chief executive Mitch Lowe apologized to its three million subscribers who could not see movies, and the company borrowed $5 million to stay afloat. Analysts and others have long doubted the company’s long-term viability, suggesting its $10 per month subscription fee cannot cover costs. The recent service outage has amplified those voices. Continue reading MoviePass Has Service Interruption, Borrows $5M to Survive