#Helios movie pass stock movie
The Company has also instituted a policy allowing subscribers to see a movie title only once per subscriber using the MoviePass subscription which, coupled with its new ticket verification software, has reduced usage significantly by eliminating suspected fraud and reselling of tickets. These measures include a technological enhancement allowing subscribers to log in on only one mobile device, which prevents MoviePass subscribers from sharing their accounts with non-subscribers, in order to prevent unauthorized account access. The company's more than 2 million subscribers have access to see films in over 91% of U.S movie theaters.īy the end of April 2018, the company implemented certain measures to promote the fair use of its MoviePass subscription product, which the company believe should improve its cash flow significantly. MoviePass is the premiere movie theater subscription service in the United States which provides its subscribers the ability to view up to one new movie title per day for one monthly subscription price. 1Īs of March 31, 2018, the Company owned 81.2%, and as of the date of this report the Company owns 91.8%, of the outstanding shares of MoviePass (excluding outstanding MoviePass options and warrants). More recently, to provide greater value to stockholders, the Company has sought to expand its business primarily through acquisitions that leverage its capabilities and expertise. “We’re hoping that if we can drive a meaningful increase in attendance we can share in that success,” said Lowe.Helios and Matheson (HMNY) provide high quality information technology, or IT, services and solutions including a range of technology platforms focusing on big data, business intelligence, and consumer-centric technology. After demonstrating its value, he hopes MoviePass will be cut in on the profits. MoviePass is operating at a loss and subsidizing its users with the hope that at some point it will successfully demonstrate to studios and theater owners that it is growing their customer base. Lowe said the company works by buying movie theater tickets for its subscribers directly from exhibitors at whatever price they offer. They plan to add to their nine-person staff, particularly in the sales and technology areas.
He will remain in charge along with Stacy Spikes, MoviePass co-founder. Lowe, a Netflix co-founder and former Redbox president, has led the company since June 2016. Despite its ambitions to disrupt the industry, MoviePass remains little known. But exhibitors have preferred to bolster their own loyalty programs instead of aligning themselves with the service.
The company claims it boosts attendance by 111% and that its customers buy more concessions. Established in 2011, it has gone through several iterations and has failed to get Hollywood to buy its sales pitch. MoviePass has struggled to gain traction in the industry and has often been met with ambivalence, even antipathy by theater owners. The service is available in over 91% of all theaters in the U.S., including AMC, Regal and Cinemark theaters along with independent theaters. MoviePass does not publicly disclose its subscriber numbers.
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