MoviePass was one of those services that seemed too good to be true. 

While dating back to 2011, MoviePass had its most prominent period of activity around 2017, when its model entailed unlimited in-theater movies for $9.95 per month. By 2018, however, the company ran into financial difficulties, requiring changes to the model. That version of MoviePass closed in 2019, although not before playing a producing role in the John Travolta mob movie “Gotti,” one of the worst-received films of the last decade. 

Earlier this year, plans were announced for a MoviePass revival, with cofounder Stacy Spikes again in charge following the bankruptcy of previous owners Helios and Matheson Analytics (HMNY). The new version, it was announced at the time, will have a “Web3 framework,” and would not use the original business model. 

According to Business Insider, the new MoviePass will launch, in beta form, on Labor Day. Those interested in participating can sign up for a waitlist during a five-day window that begins this Thursday. The new version will have three subscription tiers, costing $10, $20, or $30 per month. The BI story does not mention anything involving Web3. 

There will not be an unlimited subscription option for the service, at least during the beta version, Business Insider said. Instead, customers will receive credits each month. Also, the MoviePass card will be black instead of red. 

“The new MoviePass Beta App will be accessible by invite only. When the timer reaches [zero], the waitlist will be open for 5 days,” the MoviePass website says. “All who join the waitlist will receive priority access to the service and 10 friend invites. Space is limited. Once the waitlist is closed the only way to join will be through an invite from a friend.” 

Markets will be launched in waves while MoviePass claims partnerships with 25 percent of theaters, although the service will be available for use at all major theaters that accept Mastercard. 

“The launch determination will be weighted on level of engagement from the waitlist in each market as well as locations of exhibition partners,” MoviePass said on the website. Those who attended the launch event earlier this year at Lincoln Center’s Walter Reade Theatre “are on a VIP list and will be given the complimentary Beta tester account as promised.” 

“We’re going to make mistakes,” Spikes admitted, according to Deadline. “We’re not going to get it right out of the box. It’s going to be trial and error.

A documentary about the rise and fall of MoviePass is in the works from Mark Wahlberg’s Unrealistic Ideas production company, Deadline said. 

Stephen Silver, a technology writer for The National Interest, is a journalist, essayist and film critic, who is also a contributor to The Philadelphia Inquirer, Philly Voice, Philadelphia Weekly, the Jewish Telegraphic Agency, Living Life Fearless, Backstage magazine, Broad Street Review and Splice Today. The co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. Follow him on Twitter at @StephenSilver.

Image: Reuters.