The company added that they netted $5.56 million in new financing from “certain institutional investors” after closing on March 25.
The MoviePass service went on hiatus as of 5AM ET Thursday (July 4), explaining, “Once we have resolved these technical problems, the service will be live again.
MoviePass subscribers may be having trouble accessing their account this week.
This is the latest move in a year-plus of changes for the company that have left subscribers unhappy.