NEW YORK--(BUSINESS WIRE)--MoviePass™, the nation’s premier movie theater subscription service and a majority-owned subsidiary of Helios and Matheson Analytics Inc. (Nasdaq:HMNY) (“Helios”), today pushed back on comments by some in the theater industry who have predicted, and in some cases declared, its passing.
Exhibitors know that without MoviePass they will be able to continue to charge exorbitant prices for theater tickets and gouge customers with overpriced concessions. This is exactly the attitude the taxicab industry took when Uber entered their market.
Furthermore, any crowing about the uptick in box office receipts this summer season should include the fact that a significant percentage of that total is directly attributable to MoviePass subscribers.
Here’s just a sample:
- MoviePass contributed nearly one-fourth of the domestic box office receipts for Lionsgate’s “Blindspotting” through the first Tuesday after its release.
- MoviePass ticket purchases represented nearly 17 percent of Thursday night previews for Paramount’s “Book Club.”
- For Warner Bros.’ “Tag,” which MoviePass promoted in-app, its purchases represented 13 percent of the film’s opening weekend domestic box office totals
- MoviePass ticket purchases accounted for about 12 percent of the entire theatrical run for Magnolia Pictures’ runaway documentary hit “RGB.”
Overall, we believe as much as 6 percent of the industry’s total box office receipts can be traced to our loyal subscribers. It’s clear that because of MoviePass, more people are seeing more movies at fair prices. Instead of wishing us away, the industry, particularly the independent film producers, should be congratulating and supporting us. Absent MoviePass, exhibitors are fighting to preserve profits in a declining box office environment. That’s the doomed strategy.
Yes, we’re going through a rough patch not unlike what other disruptive enterprises experienced in their early days. Much of our issues can be attributed to the unprecedented growth in a business that just 12 months ago did not exist.
About Helios and Matheson Analytics
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 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” 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 benefit from its acquisition and integration of Moviefone.com, and create immense value with film partners) 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 and other material information concerning Helios and MoviePass are 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 March 31, 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.
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