Where users decide to pay separately outside the MoviePass service to view a particular movie title again, they still received value from their MoviePass subscription and will have demonstrated their willingness to go outside of the subscription to spend further on box office for that title, in a manner that benefits multiple parties (the studio, exhibitor, consumer, and MoviePass).īased on early results from these implementations, the company believe these enhancements will help to reduce usage and its ticket costs. 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. 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.
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