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After Buying The Company Out Of Bankruptcy, Stacy Spikes' MoviePass Says It's Had 460,000 Signups For Its Waitlist In A Day

The return of MoviePass is a story for the ages. The site is going from bankruptcy to bringing in thousands of users on its waitlist who are anxiously awaiting its comeback. Although the platform — which has been dubbed as “one of the industry’s most notorious flops” by CNN — is on a mission to rise from the ashes after its quick downfall. When the movie ticketing service was launched in 2017, it became a fan favorite. However, just two years later the company filed for bankruptcy. Then, according to CNN Business, the company’s co-founder successfully purchased MoviePass out of debt.

Aug 26, 2022

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...