MoviePass is on life support.
Helios and Matheson, the parent company of the popular movie subscription service, said that it had a service outage on Thursday because it couldn’t afford to pay for movie tickets. The company borrowed $5 million in cash Friday to pay its merchant and fulfillment processors, according to a regulatory filing.
Helios and Matheson missed a payment to one of its fulfillment processors, and that contractor temporarily refused to process payments for MoviePass.
