Consumer Centric Strategy Leads MoviePass to Drop Price Again
MoviePass™, the nation’s premier movie theater subscription service and a majority-owned subsidiary of Helios and Matheson Analytics Inc. (Nasdaq: HMNY), today announced that, for a limited time, it is offering its annual subscription to new subscribers for $6.95/month.
MoviePass has gained momentum in diversifying its revenue streams due to a series of marketing agreements with studios and distributors, as well as partnerships with a number of theater exhibitors. This recent success in forming relationships with studios, exhibitors, and marketing partners has encouraged MoviePass to offer an even more attractive deal to consumers.
The annual $6.95/month plan is available for new MoviePass subscribers only, and gives new subscribers the ability to attend up to one new movie per day in theaters for a whole year. MoviePass works at over 91% of theaters in America. MoviePass, with over two million subscribers, contributed during recent opening weekends 17% of box office to Paramount Picture’s Annihilation, 10% of box office to Orion Picture’s Every Day, and 9% of box office to Fox Studio’s Love, Simon.
“Our vision has always been to make the movie going experience easy and affordable for anyone, anywhere,” said MoviePass CEO Mitch Lowe. “With the current growth and support that we’ve seen within the last several months, our studio and exhibitor revenues and other marketing partnerships have motivated us to lower the price once again, offering movie lovers greater access to MoviePass.”
MoviePass is currently 81% owned by HMNY. MoviePass first introduced its landmark $9.95 per month subscription plan in August 2017. MoviePass has recently expanded its executive team and increased its profile across the entertainment industry through initiatives like its involvement in the SXSW film festival, the Sundance Film Festival, and HMNY’s formation of MoviePass Ventures, a wholly-owned subsidiary of HMNY founded to acquire rights in films with film distributors.
“We believe our business will succeed by granting the public greater access to see movies how they were originally intended to be seen – in theaters,” said HMNY’s Chairman and CEO Ted Farnsworth. “As the leading movie theater subscription company, we want to bring better value to our MoviePass fans. With this new annual plan, MoviePass is bringing cinema back to the masses.”
The MoviePass $6.95/mo annual subscription plan is paid annually and has a one-time processing fee of $6.55.
About Helios and Matheson
Helios and Matheson Analytics Inc. (HMNY) is a provider of information technology services and solutions, offering a range of technology platforms focusing on big data, artificial intelligence, business intelligence, social listening, and consumer-centric technology. HMNY owns a majority interest in MoviePass Inc., the nation's premier movie-theater subscription service. HMNY’s holdings include RedZone Map™, a safety and navigation app for iOS and Android users, and a community-based ecosystem that features a socially empowered safety map app that enhances mobile GPS navigation using advanced proprietary technology. HMNY is headquartered in New York, NY and listed on the Nasdaq Capital Market under the symbol HMNY. For more information, visit us at www.hmny.com.
MoviePass Inc. is a technology company dedicated to enhancing the exploration of cinema. As the nation's premier movie-theater subscription service, MoviePass provides film enthusiasts the ability to attend up to one movie per day for a low subscription price. The service, now accepted at more than 91% of theaters across the United States, is the nation's largest theater network. For more information, visit www.moviepass.com.
Cautionary Statement on Forward-looking Information
Certain information in this communication contains “forward-looking statements” about HMNY and MoviePass Inc. (“MoviePass”) within the meaning of the Private Securities Litigation Reform Act of 1995 or under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, “forward-looking statements”), that may not be based on historical fact, but instead relate to future events. Forward-looking statements are generally identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. Such forward-looking statements include, without limitation, statements regarding MoviePass’ business and prospects. Statements regarding future events are based on HMNY’s and MoviePass’ current expectations and are necessarily subject to associated risks.
Such forward-looking statements are based on a number of assumptions. Although management of HMNY and MoviePass believe that the assumptions made and expectations represented by such statements are reasonable, there can be no assurance that a forward-looking statement contained herein will prove to be accurate. Actual results and developments (including, without limitation, MoviePass’ ability to continue to grow its subscriber base, to derive financial benefits from its subscriber growth, and to derive enough revenue from revenue streams other than subscriber revenue to enable its business model to succeed) may differ materially and adversely from those expressed or implied by the forward-looking statements contained herein and even if such actual results and developments are realized or substantially realized, there can be no assurance that they will have the expected consequences or effects.
Risk factors and other material information concerning HMNY and MoviePass are described in HMNY’s Quarterly Report on Form 10-Q, for the quarter ended September 30, 2017 filed with the SEC on November 14, 2017, in HMNY’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the SEC on April 14, 2017, in HMNY’s Current Report on Form 8-K filed on November 30, 2017 and amended on February 9, 2018, and other HMNY filings, including subsequent current and periodic reports, information statements and registration statements filed with the SEC. You are cautioned to review such reports and other filings at www.sec.gov.
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