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That's a wrap: MoviePass borrows $5 million after some members are stranded at the box office

2 monthes ago   |   By Phone Arena

For those of you wondering how MoviePass is making money by allowing subscribers to see a movie every day for $9.95 a month, here is your answer; the service isn't profitable at all. In fact, things are so bad and the stock so low, that a couple of days ago parent company Helios and Matheson Analytics Inc. engineered an incredible 1-for-250 reverse split to get the stock price up to a level where funds could buy it. And on Thursday, members were having problems using their MoviePass card to check-in at theaters, although e-ticketing was still working.
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