MoviePass' Parent Company Files For Chapter 7 Bankruptcy

MoviePass and Helios and Matheson Analytics filed for Chapter 7. MoviePass had announced its indefinite shutdown due to financial and technical issues. The service offered a movie ticket daily for under $10, gaining popularity but causing financial strain. Some theaters stopped accepting MoviePass, creating their own services. MoviePass limited subscribers to three movies a month, which was unpopular. Helios and Matheson did not comment.

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