Karmic retribution comes fast for MoviePass soon after the ticket-buying service prevented its subscribers from cancelling their subscription plans. The service’s parent company Helios and Matheson revealed its MoviePass losses to be an at all-time high, ballooning from less than $3 million this quarter last year to $126.6 million.
To add onto that, MoviePass is also facing potential lawsuits from its frustrated shareholders, who are accusing the company of fraud and misinformation. Looks like karma is working overtime.
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Another day, another dent in MoviePass’s armor.
The movie theater subscription service’s parent company, Helios and Matheson Analytics, has launched a $164 million bond sale in an attempt to stay alive, and a new report says they could need more than $1.2 billion (!) of additional capital to maintain MoviePass’s growth and eventually become profitable. Below, we have a few fool-proof suggestions for how they can raise that money. Read More »
MoviePass is now getting into film production. The ticket-buying service continues to expand its baffling business ventures by producing original films through a new distribution and production company MoviePass Films.
The new division comes out of a deal brokered with the film production company Emmett Furla Oasis Films. MoviePass’s parent company Helios and Matheson Analytics has acquired the company and its slate of past and current films, which includes titles like Lone Survivor with Mark Wahlberg, Escape Plan with Arnold Schwarzenegger, and Martin Scorsese’s Silence.
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