MoviePass, which once dominated its industry, announced Friday that it would be ending its service on Sept. 14 because its efforts to recapitalize haven't been successful. MoviePass' parent company, Helios and Matheson Analytics, said it has formed a strategic review company to explore financial alternatives for the company. The sale of assets is also possible, according to a release.
Neither MoviePass nor its parent company responded immediately to a request for comment.
MoviePass was in competition with Sinemia, whichand added ticket rollover. The ticket service tried to bounce back by revamping its but it was fraught with restrictions. Just this past August, the company was reportedly bleeding financially and to keep them from ordering tickets. Shortly after, it was discovered that the service didn't encrypt or password-protect a database, leaving .