Just in time for the holidays, MoviePass, a movie-theater subscription service that's partially owned by analytics firm Helios and Matheson Analytics Inc HMNY, will be available to Costco Wholesale Corporation COST clients at a special price.
What You Need To Know
MoviePass allows its consumers to attend unlimited movies at more than 90 percent of theaters across the U.S. for a fee of $9.95 per month. But as part of a special promotion, a full-year MoviePass subscription along with access to Fandor's library of over 5,000 digital streams, will be available through Dec. 18 on Costco.com for a one-time payment of $89.99.
Why It's Important
MoviePass' user base has grown to over 600,000 subscribers and some analysts are modeling a path towards 1 million users. A partnership with Costco could be seen by some as a move that would accelerate the company's growth profile.
It's also important to note that Helios and Matheson's stock rose 1,000 percent in just one month before it was highlighted by Citron Research's Andrew Left as a short idea.
"We've long been fans of Fandor's library of movies and we're excited to partner with them and Costco to bring new members this incredible limited-time offer," said Mitch Lowe, CEO of MoviePass. "MoviePass is ultimately about celebrating our love of movies, whether you stream them at home or experience them on the big screen. We feel strongly that our subscription model is a major step forward for the industry, and the increased attendance that we've seen as a result of the MoviePass service is an encouraging sign not only for theaters, but for the studios and distributors as well."
HMNY shares were up more than 21 percent at $11.09 in Tuesday's session.