MoviePass shut down its services in September, but at the time, its parent company Helios and Matheson Analytics was still looking into a potential sale. There was at least a bit of a chance the service would be revived under new ownership. But MoviePass’ leadership has all resigned now. Moreover, the company has filed for Chapter 7 bankruptcy, meaning its assets will be dissolved (as opposed to Chapter 11 bankruptcy, where a company might try to reform itself in a more financially stable manner). As noted by my old colleague Matthew Hughes, maybe it’s time we start funding businesses that actually make financial sense now.
