MoviePass might be making a comeback soon, after Stacy Spikes successfully bought back the company out of bankruptcy earlier this week, according to a report from Insider.
“I can confirm that we acquired MoviePass out of bankruptcy on Wednesday,” Spikes commented in a statement to Insider.
MoviePass launched as original all-you-can-eat movie service all the way back in 2011, but skyrocketed to unprecedented levels of popularity in 2017, when the company sold a majority stake to Helios and Matheson Analytics.
But that planed failed spectacularly, and by the end, the company was losing money on virtually every customer, stuck footing the bill for millions in tickets that it could scarcely afford.
With Spikes back in charge, it seems doubtful that MoviePass’ return will feature the kind of impossible deals that the doomed service had offered before.