What to know about the latest comeback attempt for MoviePass [Video]

MoviePass, the infamous cinema subscription service that crashed and burned in 2020, has secured a new investor amid an ambitious comeback attempt.

The New York-based company announced last week that it had landed an investment from Forecast Labs, a venture group owned by Comcast. MoviePass did not disclose the amount invested or other financial terms.

The plan is for Forecast Labs to grow MoviePass’ subscriber base through TV advertising.

“Today’s investment will accelerate our mission to bring new technology and innovation to the film community that will spur growth and drive higher traffic to theaters,” Stacy Spikes, chief executive and co-founder of MoviePass, said in a statement Thursday.

“We are also continuing to invest in the development of our cinematic marketplace so that studios and partner theaters can see maximum value by engaging directly with movie fans on the platform.”

Arjun Kapur, managing partner at Forecast Labs, added in a statement that the venture firm sees “tremendous value” in …