According to the Wrap, MoviePass is on the fast track to oblivion.
The moviegoing subscription service may soon be spun off from its parent company.
This would leave it to operate as a new publicly-traded subsidiary.
Helios and Matheson recently announced plans to spin off the subscription service.
They announced plans for a vertically integrated film production, marketing and exhibition company.
But insiders believe the move would simply accelerate MoviePass’s decline.