MoviePass, the game-changing ticketing service, is shutting down

But, it added, 'The company is unable to predict if or when the MoviePass service will continue'.

MoviePass parent company Helios and Matheson Analytics notified subscribers that it plans to close down the service because its "efforts to recapitalize MoviePass have not been successful to date". "There can be no assurance that any such financing will be obtained or available on terms acceptable to the Committee". On top of that, technical problems plagued the app, certain screenings were completely locked-out, and customer service was non-existent.

Meanwhile, last month MoviePass confirmed that a security issue may have exposed customers' records online, including credit card info. The system suddenly shut down in July, but the halt was supposedly temporary, leaving subscribers without any timeline on a potential return.

MoviePass in August 2018 eliminated the one-movie-per-day plan, priced at $9.95 per month - an offer that evidently proved to be economically unsustainable - replacing it with a new $9.95 plan letting subscribers see just three movies each month. The death of MoviePass serves as a cautionary tale for us all - a reminder that if something seems too good to be true, it probably is.

In a botched effort to stem the looses, the company then drew the ire of subscribers by blocking them from blockbuster releases such as "Mission: Impossible" on their opening weekend. The service pulled in 3 million subscriptions at its height, and film fans across the country were gaga over the prospect of using their MoviePass membership to see unlimited films.

After a long bout with terminal bad ideas, MoviePass has died at the age of eight. Unfortunately, they couldn't find a way to make a sustainable business plan for themselves (at least yet, as the press release does mention hopes for the future, ) but there's no doubt that the MoviePass saga has been a fascinating moment in film history.