MoviePass Unveils Strategy to Invest in Film at the Sundance Film Festival with the Launch of MoviePass Ventures
MoviePass Ventures Looks to Create Efficiencies in Distribution with Acquisition Strategy
MoviePass, the nation’s premier movie-theater subscription service and a majority-owned subsidiary of Helios and Matheson Analytics Inc. (NASDAQ: HMNY), announced MoviePass Ventures, a wholly-owned subsidiary founded to co-acquire films with film distributors.
The announcement was made at The Sundance Film Festival during MoviePass’ content series “Off-Script: The Future of Film” to a room of filmmakers, producers, directors, investors, distributors, and other industry executives.
“We’ve experienced enormous success bringing people back into the theaters since our launch in August and with an influx of business from distributors, have proven the impact of our marketing over and over again, giving them an incremental lift in ticket sales,” said Mitch Lowe, CEO of MoviePass. “Given the successes we have demonstrated for our distributor partners in ensuring strong box office in the theatrical window, it’s only natural for us to double down and want to play alongside them – and share in the upside.”
MoviePass is currently purchasing approximately 3% of domestic box office. However, it is purchasing in excess of 10% of a particular title’s domestic box office when it uses a series of levers within its app and marketing-based platform to impact a consumer’s selection of a particular independent film. Examples of having impacted 10%+ box office performance include: “The Post,” “Three Billboards Outside of Ebbing, Missouri,” “Call Me By Your Name” and “The Shape of Water.”
By boosting performance in the theatrical window, MoviePass is creating an annuity and benefiting from greater downstream revenues on all platforms , including:
- Home Entertainment
- Streaming and Pay TV
- Digital / Physical / Transactional (Blu-Ray, DVD, Electronic Sell Through, Pay Per View)
- Other Ancillary Streams including Network, cable, airlines, hotels, etc.
- Foreign Sales
“We aren’t here at Sundance to compete with distributors, but rather to put skin in the game alongside them and to bring great films to the big screen across the country for our subscribers,” said Ted Farnsworth, CEO of Helios and Matheson Analytics Inc. “We’re open for business. We’re here at Sundance – and SXSW is next.”
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 unlimited movies. 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.
About Helios and Matheson
Helios and Matheson Analytics Inc. (Nasdaq: 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.