MoviePass will shut down for good on Sept. 14 (cnbc.com)

Article summary

MoviePass, a discount ticketing service, is shutting down on September 14 due to unsuccessful efforts to recapitalize. The company's parent, Helios and Matheson Analytics, is exploring a possible sale of its assets. MoviePass had been struggling for over a year, with its subscriber base plummeting from 3 million to 225,000. The company's closure comes after a series of attempts to revive the service, including a revamped unlimited plan and restrictions on usage.

Main themes

• MoviePass shutdown
• subscription service model
• data collection and privacy
• corporate finance and restructuring

What commenters say

• The shutdown of MoviePass was inevitable due to its unsustainable business model, which offered customers a deal that was too good to be true.
• Consumers have a responsibility to research and understand the companies they interact with, including their data collection practices and parent companies.
• The complexity of terms of service and privacy policies makes it unreasonable to expect consumers to fully understand them, and contract law should take this into account.
• The sale of MoviePass's assets, including user data, is a likely outcome of the company's shutdown, and this raises concerns about data protection and privacy.
• The concept of informed consent in contract law is problematic when dealing with large corporations and complex legal agreements.
• Some people believe that the McDonald's hot coffee lawsuit was justified, while others see it as an example of frivolous litigation.
• The security breach experienced by MoviePass earlier this year has raised concerns about the company's handling of user data and the potential consequences for customers.