MoviePass Eyes 2022 Return As Original Founder Stacy Spikes Reacquires Assets From Bankruptcy Proceedings
Photo Credit: J. Countess

MoviePass Eyes 2022 Return As Original Founder Stacy Spikes Reacquires Assets From Bankruptcy Proceedings

Back in May 2021, AfroTech sat down with MoviePass founder Stacy Spikes to discuss the concept of his new company, PreShow. At the time, Spikes dismissed any notion of ever returning to the company he helped make famous.

Getting his start as a film marketing executive and producer, Spikes first made headlines when he became the co-founder and CEO of MoviePass. In theory, MoviePass’ idea was a simple, and welcoming, one: pay a monthly subscription fee, see as many movies in the theaters as you’d like.

In 2012, MoviePass upped the ante by activating proprietary location-based payment technology, which allowed users to pay for their tickets in a safe and secure way — another idea that was, in fact, before its time.

So it’s no surprise that PreShow, too, has the same visionary approach to entertainment. “Originally, the idea was to make it movie-based,” he said. “But the pandemic threw a wrench into those plans.”

Now, though, it seems like Spikes may have pivoted yet again.

According to Variety, Spikes acquired some of MoviePass’ assets in a bankruptcy proceeding. And in a statement given by his representative, he’s looking to relaunch the company in 2022 with a new set of financial backers.

“I can confirm that we acquired MoviePass out of bankruptcy on Wednesday,” he shared. “We are thrilled to have it back and are exploring the possibility of relaunching soon. Our pursuit to reclaim the brand was encouraged by the continued interest from the moviegoing community. We believe, if done properly, theatrical subscription can play an instrumental role in lifting moviegoing attendance to new heights.”

Spikes has also launched a new website for MoviePass, where potential customers can sign up using their email to stay informed about when (or if) the new service launches. Details about the subscription prices, however, weren’t immediately made clear in the initial announcement.