While over a million people are currently MoviePass subscribers, the fact is that unless a majority of them don’t use the service, MoviePass losses money on those customers that do.
This is certainly not good news as it indicated that MoviePass is in a pretty bad financial position at the moment.
If it cant make these fairly standard payments through the normal course of business then MoviePass clearly isn’t making enough money.
This was expected, as Helios and Matheson Analytics is a data company and it was expected that the real value in MoviePass was in its customer data, but it seems that even that hasn’t been as lucrative as it was supposed to be.