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Sinemia, the movie-ticket service that launched in 2014 and emerged as a competitor to the beleaguered MoviePass over the last year, has announced that it is shutting down effective immediately. In a note on the company’s website, Sinemia said that its “efforts to cover the cost of unexpected legal proceedings and raise the funds required to continue operations have not been sufficient.”
Here’s the full statement:
Dear - Customer
Today, with a heavy heart, we’re announcing that Sinemia is closing its doors and ending operations in the US effective immediately.
Sinemia - Journey - Vision - Moviegoers - Enjoy
At Sinemia, we set out on our journey with the vision to help as many moviegoers as possible enjoy an affordable and better experience at the movies by creating a movie ticket subscription service that adds value for both the moviegoers and the movie industry. Since 2014, we’ve been fine-tuning our model and serving movie-goers with a slate of affordable and flexible subscription plans.
We are all witnessing that the future of moviegoing is evolving through movie ticket subscriptions. However, we didn’t see a path to sustainability as an independent movie ticket subscription service in the face of competition from movie theaters as they build their own subscriptions. Thanks to the cost advantage and cross-sell opportunities, movie theaters will be prominent in the movie ticket subscription economy.
Market - Service - Efforts - Cost - Proceedings
While we are proud to have created a best in market service, our efforts to cover the cost of unexpected legal proceedings and raise the funds required to continue operations have not been...
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Millions in tribute, but not a penny left for charity.