MoviePass Surpasses 1.5 Million Subscribers
Movie Theater Subscription Service MoviePass Rings in New Year with 500,000 New Paying Subscribers in Less than 30 Days
NEW YORK–(BUSINESS WIRE)– Less than 30 days after announcing its milestone of 1 million subscribers, MoviePass™, the nation’s premier movie theater subscription service and a majority-owned subsidiary of Helios and Matheson Analytics Inc. (HMNY) (Nasdaq:HMNY), announced today that MoviePass™ added another 500,000 new paying subscribers since December 12, 2017. MoviePass™ subscribers can see a movie every day of the month for a low monthly subscription fee of $9.95.
“MoviePass™ is attracting people back to the movie theaters by lowering their cost, which we believe is transformational for the industry,” said Ted Farnsworth, Chairman and Chief Executive Officer of HMNY. “We believe the data MoviePass™ collects from these million and a half movie-goers will become an important asset to our partners and the future of the movie industry,” Mr. Farnsworth continued.
MoviePass™, led by Mitch Lowe, its Chief Executive Officer, worked with HMNY to change the MoviePass™ monthly subscription fee to $9.95 in August 2017 resulting in the service’s recent national attention and success in attracting new paying subscribers.
“Based on the dramatic increase in the number of MoviePass subscribers over such a short period of time, we believe MoviePass will continue to grow its subscriber base significantly,” said Mitch Lowe, Chief Executive Officer of MoviePass™. “We’re giving people a reason to go back to the movie theaters and they’re going in droves. With awards season here, we hope we can make Hollywood and exhibitors very happy by filling seats with eager audiences.”