The bankruptcy auction for ticket subscription service MoviePass is set for June, but subscriber information will not be part of the sale.
BY KELVIN CHILDS
Would-be buyers for the assets of MoviePass, the defunct ticket subscription service, won’t get its subscriber information in the sale.
According to Variety, the bankruptcy court has set June 18 as the deadline for bids on MoviePass’s other assets, with an auction to be conducted by telephone on June 25 and the minimum opening bid set at $250,000. However, personally identifiable information about MoviePass subscribers is excluded from the sale.
Included in the auction are the company’s domain names, ownership rights to its trademarks and patents, its mobile app’s proprietary code and software and “certain sample polling analyses containing selective operating metrics prepared by MoviePass.”
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Parent company Helios and Matheson Analytics declared in its Chapter 7 bankruptcy filing that MoviePass’s assets are worth between $1-10 million. Helios and Matheson Analytics and MoviePass filed bankruptcy in January.
Subscribers to MoviePass paid a $9.95 monthly fee for unlimited movie tickets. Patrons selected the movies with a MoviePass app and paid for the tickets at the box office with a MoviePass-branded debit card. However, the company ran into financial trouble and changed the terms, raising the price and limiting the number of films subscribers could see. The service subsequently shut down in September 2019.
This article originally appeared in CBR.
