• MNB has reported in the past about MoviePass, which is a new system that allows people to spend $9.95 for a monthly pass that will allow them to see one movie in theaters every day of the month. While it doesn’t work in every theater or for every movie, and has met some resistance from some theater companies, MoviePass is seen as a real boon both to frequent moviegoers as well as to occasional moviegoers who think that it is too expensive.
Now, Variety reports that “an independent auditor has raised ‘substantial doubt’ about MoviePass’s ability to continue operating as ‘a going concern’,” especially after a year in which it lost more than $150 million.
The auditor predicts that even if MoviePass gets additional investment money, it could take years to become profitable; the company, however, continues to maintain that it will move into profit sometime next year.
Now, Variety reports that “an independent auditor has raised ‘substantial doubt’ about MoviePass’s ability to continue operating as ‘a going concern’,” especially after a year in which it lost more than $150 million.
The auditor predicts that even if MoviePass gets additional investment money, it could take years to become profitable; the company, however, continues to maintain that it will move into profit sometime next year.
- KC's View:
