Sinemia, a Would-be Rival To MoviePass, Shuts Down US Movie-Ticket Subscription Service

Sinemia, a would-be rival to MoviePass, is closing down its U.S. operations -- telling customers it could not find 'a path to sustainability' amid legal headaches, competitive pressures and the challenging economics of the business model. From a report: The company announced the shutdown in a notice on its website Thursday. '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 sufficient,' Sinemia said in the statement. 'The competition in the U.S. market and the core economics of what it costs to deliver Sinemia's end-to-end experience ultimately [led] us to the decision of discontinuing our U.S. operations.' From the notice, it's not clear whether Sinemia will be extending refunds that may be due to subscribers.

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