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Helios and Matheson Issues MoviePass Progress ReportData and technology company Helios and Matheson Analytics Inc. (Nasdaq: HMNY) ("Helios"), owner of MoviePass, today reflected on its one year anniversary of its revolutionary movie subscription service and formalized plans for it new, sustainable business model. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180815005435/en/ Helios and Matheson issues MoviePass progress report (Photo: Business Wire) One year ago, today, Helios announced its acquisition of a small U.S. movie theater subscription company, MoviePass. With only eight employees at the time, MoviePass was considered a fringe player supporting 720 partnered screens and having 15,000 subscribers. When MoviePass lowered its subscription price from $20 per month to $9.95 per month, it created a movement bringing movie enthusiasts back to movie theaters and became a boon to a declining industry which, one year later, is showing signs of a financial rebound. Within the first several days, MoviePass grew 1,000%, from 15,000 subscribers to 150,000. MoviePass continued the quick growth trajectory, acquiring one million subscribers in just four months. This growth enabled MoviePass to close deals with Costco, iHeart Radio, and major Hollywood studios. Now, MoviePass has over 2,000 partner screens while also available for use at 91% of movie theaters nationwide. MoviePass recently launched a new subscription model which is projected to reduce its cash deficit by approximately 60% or more while allowing its subscribers to enjoy three movies per month for $9.95 per month and additional movies at a discounted price, a "win-win" for its subscribers and the industry. "We far exceeded our 2017 expectation for Helios and MoviePass," said Ted Farnsworth, Helios chairman and CEO. "In our agreement to acquire MoviePass in August 2017, MoviePass had a performance milestone to achieve 100,000 subscribers in one year. We were all surprised to see the subscriber growth surpass that milestone in one week. It is rare to see surprises of this magnitude. We've reached an important point in our company where, after a year of research and analysis, we believe we have fine-tuned the MoviePass business model to fit our unique growth rate. Under the new plan, we believe we are creating a more sustainable path for MoviePass and its loyal subscribers." "Measured by number of movie tickets sold, we are the fourth largest theater chain in the country without any brick and mortar locations, or screens," said MoviePass CEO Mitch Lowe. "It's an amazing milestone considering we feel like we've just begun." Helios/MoviePass One Year Highlights:
Helios and Matheson Analytics Inc. (Nasdaq:HMNY) ("Helios") 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. Helios currently owns approximately 92% of the outstanding shares (excluding options and warrants) of MoviePass Inc., the nation's premier movie-theater subscription service. Helios' holdings include RedZone Map™, a safety and navigation app for iOS and Android (News - Alert) users, and a community-based ecosystem that features a socially empowered safety map app that enhances mobile GPS navigation using advanced proprietary technology. Helios 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. About MoviePass Inc. MoviePass Inc. ("MoviePass") is a marketing technology platform enhancing the exploration of film and the moviegoing experience. As the nation's premier movie-theater subscription service, MoviePass provides film enthusiasts the ability to attend select new movies in theaters. The service, now accepted at more than 91% of theaters across the United States, is the nation's largest theater network. Visit us at moviepass.com. Cautionary Statement on Forward-looking Information Certain statements in this communication contain forward-looking statements 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, including without limitation statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "project" and similar expressions. All statements other than statements of historical fact included in this communication are forward-looking statements. Such forward-looking statements are based on a number of assumptions. Although Helios' management believes 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, the ability of MoviePass to reduce its cash deficit by 60% while allowing its members to enjoy more than three movies per month and the ability to create a more sustainable path for MoviePass) may differ significantly 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 include, among other things: Helios' capital requirements and whether or not it will be able to raise capital as needed; the success of MoviePass' cost-reduction and subscription revenue increase measures; the ability to successfully develop the business model of MoviePass; the ability to integrate the operations of MoviePass, MoviePass Ventures, MoviePass Films, Moviefone and other acquired businesses into Helios' operation; MoviePass' ability to retain its existing subscribers and market and sell its services to new subscribers, and the risk factors described in Helios' Annual Report on Form 10-K for the fiscal year ended December 31, 2017, its quarterly report on Form 10-Q for the quarter ended June 30, 2018 and other filings, including subsequent current and periodic reports, information statements and registration statements filed with the U.S. Securities and Exchange Commission. You are cautioned to review such reports and other filings at www.sec.gov Given these risks, uncertainties and factors, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on Helios' current expectations and Helios does not undertake an obligation to revise or update such forward-looking statements and information to reflect subsequent events or circumstances, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180815005435/en/ |