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Home / Business / MoviePass goes dark on a busy 4th of July – and maybe longer

MoviePass goes dark on a busy 4th of July – and maybe longer



MoviePass Inc. takes time out of one of the busiest checkout weekends of the year.

The cartoon service owned by Helios & Matheson Analytics Inc.

HMNY, -5.77%

announced on Wednesday night that its service would be temporarily interrupted from 5:00 am Eastern on July 4 in order to work on an "improved version" of the mobile app. [19659002] The company did not say how long it expects the app to be closed, but a statement of disruption suggested several days.

July this weekend is traditionally one of the more bankable periods for movie ticket sales. This year's offer includes the release of "Spider-Man: Far From Home" from Walt Disney Co.s

DIS, + 0.32%

Marvel Studios and the broad release of the critically acclaimed horror movie "Midsommer" from Sony

SNE, + 1.94%

and A24.

MoviePass said customers would not be charged for the time when the app is down, and "subscribers will automatically be credited for the number of days affected when the service continues." No new users will be able to subscribe as long as it is down.

"There is never a good time to do this," said Mitch Lowe, director of MoviePass, 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 needs to be done."

The company said it will also use the time to recapitalize for once service continues. In March, Helios & Matheson increased $ 6 million in funding to support MoviePass, including enhancement of technology.

Lowe said the error comes in response to customer complaints, including limited movie options, surge rates, and downtime.

"We have listened and we understand the frustrations of our subscribers," he said in a statement. "In order to provide the level of service you deserve and we can be proud of, we need to improve our mobile app. We plan to make this improvement by leveraging an improved technology platform that is in the final stages of completion."

The once high flying company has seen almost all value values ​​over the past year, with Helios & Matheson stock currently trading at a fraction of a cent. Shares are down 100% over the past year, compared to the S&P 500's

SPX, + 0.77%

10% gain.


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