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Moviepass Buys Moviefone

Moviepass Buys Moviefone

This is arguably the most relevant Moviefone has been since Cosmo Kramer provided movie times circa 1994. MoviePass, the all you can watch, movie theatre golden ticket snatched up Moviefone from Verizon Communication’s Oath Division.

Why, you ask? Because you’ve gotta spend money to make money. And MoviePass has been really, really bad at making money thus far.

Their current business model consists of losing massive sums of investor money by allowing unlimited access to movies for just $9.95 per month. Did I mention that MoviePass pays full price for the tickets on the backend?

Moviefone, with 6M unique visitors monthly, will provide a platform to recruit more cinephiles and create some advertising revenue.

Financial terms weren’t disclosed, presumably because MoviePass was ashamed of the poorly negotiated deal.