The Guy Who Owns MoviePass Says Losing Money …

For MoviePass, Losing Money Was the Plan All Along - VICEGreat, Now MoviePass Is Charging More and Limiting Access to Big ... - VICEMoviePass Is Still Refusing to Die - VICE

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For MoviePass, Losing Money Was The Plan All Along - VICE

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Jun 15, 2018 · MoviePass offers a suspiciously good deal. For just $9.95 a month, subscribers can see up to one movie a day at select theaters, a business plan that has the startup losing …

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Former MoviePass CEO Pleads Guilty To Fraud, Faces Up To 25

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Jan 7, 2025 · Ted Farnsworth, the former CEO of MoviePass and guy who had the bright idea to charge $9.95 per month for unlimited film screenings, has admitted to defrauding investors in …

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FAQs about The Guy Who Owns MoviePass Says Losing Money … Coupon?

Is MoviePass losing money?

In truth and in fact, and as Coconspirator 1 [Farnsworth] and LOWE knew... The $9.95 “unlimited” plan was a temporary marketing gimmick to drive subscriber growth, and MoviePass was losing money as a result. ...

Did MoviePass lose money based on a marketing gimmick?

The $9.95 “unlimited” plan was a temporary marketing gimmick to drive subscriber growth, and MoviePass was losing money as a result. In addition to a $250,000 fine, Lowe faces up to five years in prison (although a lighter sentence is expected for his cooperation with the investigation, THR reports). ...

Was MoviePass's 'unlimited' option a gimmick?

MoviePass’s “unlimited” option was an untested “gimmick” that led to its collapse, according to federal prosecutors. - Photo: Andrew Harrer/Bloomberg (Getty Images) Former MoviePass CEO Theodore Farnsworth pleaded guilty to securities fraud after being accused of misleading investors about the ticketing service’s money-draining “unlimited” plan. ...

Was MoviePass doomed to fail?

It was pretty obvious that MoviePass was doomed to fail the moment the unlimited plan was introduced, but Farnsworth claimed to investors that the price was sustainable and would be profitable on subscription fees alone. Turns out no, as the DOJ found MoviePass lost money from the plan. ...

How much does MoviePass cost?

In 2017, when Mr. Farnsworth was the chief executive of Helios and Matheson Inc., which had a majority stake in MoviePass, subscribers under its plan could watch “unlimited” movies in theaters for $9.95 a month. ...

Did Lowe & Farnsworth know MoviePass was losing money?

Prosecutors alleged that Lowe and Farnsworth knew that MoviePass was losing money as a result of the marketing gimmick meant to drive subscriber growth and that the company was actively preventing users from using the service. Employees were directed to throttle high activity subscribers, according to the indictment. ...