MoviePass claims surprise shutdown is only temporary

MoviePass takes the summer off.

Friday, the cash-strapped cinema subscription service announced it would settle for several weeks under the premise of improving its app.

The surprise interruptions began early in the morning of July 4, and will continue indefinitely.

"It's never a good time to do this," said CEO Mitch Lowe in a statement. "But in order to complete the enhanced version of our app, one that we believe will provide a much better experience for our subscribers, it must be done."

The closing came just hours after the premiere of Disney's juggernaut "Spider-Man: Far From Home", which continued to bring in nearly $ 1[ads1]00 million domestically the first three days.

The conclusion may also well extend into theatrical races of the much-anticipated "Lion King" strap later this month.

Last summer, MoviePass – whose flat monthly fee tracks losses when subscribers see more movies in a month – discussed subscribers after blocking them from blockbuster releases like "Mission: Impossible" at their opening weekend.

The company did not specify the exact changes it would make in its app, but said they would solve "technical issues."

"We have listened and we understand the frustrations of our subscribers," Lowe said. "To provide the level of service you deserve and we can be proud of, we need to improve our mobile app."

MoviePass subscribers will not be charged while the app is down, the company says and will automatically receive a credit for the days missed when the service is back online.

In addition, MoviePass will not register any new subscribers during the freeze.

Shares in MoviePass & # 39; penny stocks parent company Helios & Matheson jumped 2% on the news, to three -10ths of a cent.

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