MoviePass: We’re Still Standing
August 02 2018 - 10:50AM
Business Wire
To paraphrase Mark Twain: Talk of our demise is
greatly exaggerated
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.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180802005550/en/
MoviePass: We're Still Standing (Photo:
Business Wire)
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.
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/20180802005550/en/
HMNY Contact:The Pollack PR Marketing GroupStephanie
Goldman/Mark Havenner,
310-556-4443sgoldman@ppmgcorp.com / mhavenner@ppmgcorp.comorMoviePass
Contact:LaunchSquad for MoviePassGavin Skillman,
212-564-3665moviepass@launchsquad.com
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