Do-It-Yourself Releasing Platform Tugg Pulls the Plug
Published on Feb 14, 2020
Tugg Inc., the 9-year-old do-it-yourself releasing platform, has gone out of business after a deal to sell the company fell through.
The company’s model provided for individuals to select a film, screening time and nearby theater and then spread the word. Tugg would reserve the theater, manage ticketing and ensure delivery of the film.
Pablo Gonzalez, the chief executive officer and co-founder, said in an open letter this week that Tugg had been working to be acquired by an entity that was a strategic partner to help Tugg survive as a company, but that would also allow Tugg to get caught up on all outstanding payables, and to continue to improve the quality of the service.
“We were blindsided to learn the deal died at the finish line this past Friday 1/24/20,” Gonzalez said. “Given that for the first time in that period, we knew we couldn’t meet our obligations to our team,
Read full article at: Variety - Film News
Author: Dave McNary