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Hey listeners, David here. We hope you're enjoying this holiday week. This week we're looking back at some old favorite episodes. Take a listen.

From Wondry, I'm David Brown, and this is Business Wars Daily on this Wednesday, the last day of August.

A few years back, a once promising company faced such a meteoric downfall that, well, it could have been a movie.

The company was Movie Pass.

Movie Pass, as you may remember, let users pay a flat rate between

40 and 50 bucks a month to watch unlimited movies in theaters. The company would buy tickets at retail

price, and the hope was that once membership grew, major cinema chains would give MoviePass

discounts or a cut of concession stand revenue. But, well, that never happened.

Instead, MoviePass did something widely regarded in the industry is a bit crazy.

It lowered its subscription price to $10 a month and membership skyrocketed to over 3 million users.

The issue?

MoviePass was still fronting money for the tickets, and passholders

...