MoviePass Was Down Because They Ran Out of Money

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The movie ticket service MoviePass had to shut down on Thursday night because they went broke.

The parent company had to borrow $5 million to stay afloat.

MoviePass has been on thin ice for a while as they provide members with being able to see a movie a day at participating theaters for only $9.95 a month. The company has been hemorrhaging money.

Movie theater chains have started offering similar deals with more perks attached.