Helios and Matheson Analytics and MoviePass Acquire Moviefone
Acquisition of Iconic Entertainment Brand from Oath Inc., a Verizon Company, Expected to Fuel Additional MoviePass Subscriber Growth and Expand Advertising Platform
NEW YORK–(BUSINESS WIRE)–Helios and Matheson Analytics Inc. (Nasdaq: HMNY) (“HMNY”) and MoviePass Inc. (“MoviePass”), the nation’s premier movie theater subscription service and a majority-owned subsidiary of HMNY, today announced that HMNY has acquired Moviefone, an entertainment service owned by Oath Inc. (formerly, AOL Inc.) (“Oath”) which provides over 6 million monthly unique visitors full access to the entertainment ecosystem, from movie theaters to streaming services and all screens in between.
As HMNY’s second acquisition in the consumer entertainment industry, the Moviefone acquisition represents another pillar in building out its content marketing strategy and advertising revenue platform for MoviePass. Oath will continue to sell Moviefone’s digital ad inventory and has taken an ownership stake in MoviePass through equity in HMNY in connection with the transaction.
“This natural alignment between MoviePass and Moviefone will help us grow our subscriber base significantly and expand our marketing and advertising platform for our studio and brand partners,” said Mitch Lowe, CEO of MoviePass. “Moviefone has been a go-to resource for entertainment enthusiasts for years, and we’re excited to bolster its presence and bring this iconic platform into the entertainment ecosystem of the future.”
Founded in 1989, Moviefone delivers the best in entertainment, including movie show times and tickets, trailers, TV schedules, streaming information, cast and crew interviews, photo galleries and more. Moviefone’s editorial coverage includes up-to-date entertainment news, trailers and clips, exciting red-carpet coverage and celebrity features.
“This investment in digital content expands MoviePass’ reach further into multiple Hollywood touchpoints,” said Khalid Itum, VP, Business Development at MoviePass. “We believe the acquisition will allow us to connect studios and brands with potential new subscribers, capture their attention, and convert them into paying subscribers. We believe Moviefone will also allow us to provide relevant and appealing content to moviegoers while simultaneously increasing the value of the Moviefone brand.”
“HMNY’s vision is to have MoviePass support the entire movie theater industry ecosystem– from distribution to exhibition and now, content,” said HMNY’s Chairman and CEO, Ted Farnsworth. “Above all, we believe the Moviefone acquisition will serve as another valuable source of revenue for HMNY and MoviePass,” concluded Mr. Farnsworth.
“Moviefone provides users with full access to the entertainment ecosystem, from movie theaters to streaming services and on all screens in between, said Matt Young, VP Entertainment, Oath. “By bringing together MoviePass and Moviefone, entertainment lovers will enjoy the full suite of movie-theater subscription opportunities, discovering, interacting and sharing blockbusters, hit series and underground hits across the worldwide community of film and TV. Advertising partners will also have a more powerful and comprehensive vehicle to promote their films.”