Movie Pass Has No Money, Buys Production Studio Anyway

Photo: USA Today

Hey MoviePass, are you having a Britney 2007 moment? Because you’re acting out a little. R u okay? We’re here for you. We love you xoxo.

MoviePass, the entertainment service that lets movie-goers watch films at low costs, announced plans to buy a production company and launch its own movie studio. ?

Helios & Matheson, MoviePass’ parent company, revealed that it has agreed to acquire Emmett Furla Oasis Films (EFO) with an unspecified amount of cash and stock (ominous). The announcement also claims the two companies formed a new production studio called MoviePass Films LLC. MoviePass will take over ownership of the 80 films in EFO’s library, including End of Watch and Lone Survivor, as well as its current production slate, which includes an adaptation of the Atari game Asteroids and Martin Scorsese’s The Irishman.

Now, this would be a great idea if MoviePass had that little thing called money. Earlier this month, the company admitted it only has $15.7 million in the bank. To make matters worse, the service shells out FULL PRICE for all those unlimited daily tickets, while subscribers only pay $9.99. We are #shooketh by this news that they thought spending more money would help—but also, did I need that $5 coffee?

MoviePass CEO Mitch Lowe told Variety in response to the announcement, “This signals our long-term commitment to the movie business. We’re here for the long haul.”

That’s a strong statement, bruh. I wish I had that confidence.

About the author

Kelly Corbett

Kelly likes to write about internet trash/aspires to be online garbage. She's an editorial assistant at Adventure Publishing Group and she went to some college somewhere where she was a much better person. She writes for The Pop Insider, The Toy Insider, and contributes more professional-sounding content to The Toy Book, and The Licensing Book. In her free time, she likes to nap, go on twitter rants, and eat bagels. She's, like, kinda okay.