MoviePass chopped its prices eight months ago, bringing membership to two million people — and the company to the brink of bankruptcy. Parent company Helios and Matheson Analytics, which owns 92 percent of MoviePass, reported that it was down to just $15.5 million in cash at the end of April, with $27.9 million on deposit with merchant processors. The question now is if subscribers can slack off on movie-going before the company runs out of money. A recent SEC filing indicates that the company’s auditor has “substantial doubt.” Continue reading Skyrocketing Membership Threatens the Viability of MoviePass

MoviePass just brought back its unlimited subscription plan launched last August that allows users to see a movie a day for $10 per month. Better yet, chief executive Mitch Lowe declared the company is “absolutely committed” to keeping the plan in place. Two weeks ago, MoviePass limited subscribers to four movies per month. The company has previously experimented with removing subscriber access to some AMC Theatres in major cities and even specific movies, all of which were temporary moves. Continue reading MoviePass Revives Unlimited Plan, Will Offer IMAX, 3D Movies

The disruptive movie subscription company MoviePass plans to build a recommendation engine to rival Rotten Tomatoes, which, say its executives, is too general and too critical for its client base. MoviePass subscribers pay a flat monthly fee to see one showing per day in participating theaters. According to MoviePass chief executive Mitch Lowe, subscribers want to be able to review movies on its site and say they would prefer to read reviews by fellow subscribers. MoviePass is also buying Moviefone from its owner, Verizon Communications’ Oath. Continue reading MoviePass Acquires Moviefone, Plans Recommendation Engine

During the Sundance Film Festival, theater subscription service MoviePass announced the launch of MoviePass Ventures, part of a new strategy to co-acquire films with distributors. Data firm Helios and Matheson Analytics Inc. (HMNY), now the majority owner of MoviePass, claims its new service is already boosting domestic box office. HMNY plans to invest in movies so that it can share in downstream revenues, including streaming, pay TV, Blu-ray, DVD, EST, PPV, and ancillary and foreign markets. HMNY could also eventually sell subscriber data to Hollywood studios for targeted marketing. Continue reading MoviePass Ventures Plans to Acquire Films With Distributors

MoviePass is a service that lets subscribers attend up to one 2D movie screening per day in theaters for a monthly charge. Shortly after a price drop to $9.95 per month in August (from a tiered $15-$50 model), the New York-based company announced it had jumped to 400,000 customers. By October, that number increased to 600,000. Last month, MoviePass dropped its monthly fee again for a limited time offer of about $6.95 per month for those willing to pay up front for a year. Now the company announced it “has since reached one million subscribers in less time than Spotify, Hulu, and Netflix.” Continue reading MoviePass Continues Rapid Ascent, Tops 1 Million Subscribers

Early Netflix executive Mitch Lowe is now in charge of MoviePass, and he plans to drop its movie ticket subscription price to $9.95, which will let customers go to one showing per day at any theater in the U.S. that accepts debit cards. In return, MoviePass pays theaters the full price of each ticket, with the exception of 3D or IMAX screens. The company just sold a majority stake to Helios and Matheson Analytics, a publicly traded data firm. AMC has stated it wants to block MoviePass subscribers. Continue reading MoviePass Cuts Subscription to $10/Month, AMC Fights Back