Helios and Matheson Analytics has acquired movie subscription technology company MoviePass as part of its continued expansion into industries with opportunities for big data and artificial intelligence innovations.
Currently, MoviePass is available in more than 91 percent of all theaters in the U.S., including AMC, Regal and Cinemark. The app enables subscribers to see up to one movie a day in a theater with no blackout dates and no contracts for a $9.95 monthly fee.
MoviePass, established in 2011, has been led by Netflix co-founder and former Redbox president Mitch Lowe since June 2016, along with Stacy Spikes, MoviePass co-founder, and award-winning film marketing executive and producer. Early investors included True Ventures, AOL Ventures and Chris Kelly, MoviePass' largest investor, who was a member of Facebook’s original team.
“MoviePass was founded to make it easier for passionate moviegoers and casual fans to see films the way they’re meant to be seen — in the theater,” said Lowe. “Our vision has always been to make the movie-going experience more affordable and enjoyable for our subscribers. We are changing the way consumers think about going to the movies by making it possible to experience a broader array of films — from the latest summer blockbuster to a critically-acclaimed documentary — through a subscription model. Today’s acquisition by Helios & Matheson is a huge step towards making our vision a reality by allowing us to introduce a new $9.95 nationwide subscription service that completely disrupts the movie industry in the same way that Netflix and Redbox have done in years past."
MoviePass will continue its operations with existing leadership and continue to expand throughout the U.S.
“As a co-founder of MoviePass, the establishment of a subscription service has and continues to be the catalyst needed to reinvigorate the film industry,” said Spikes. “This partnership with Helios and Matheson brings together the perfect combination of resources and innovation needed to bring that goal one step closer to reality. Our data continues to reinforce the amazing benefits of subscription for customers, theaters and studios. For our industry to remain relevant we must be bold and experiment with wild new ideas.”
“My past experience at Facebook gave me the wherewithal to see that MoviePass was destined to disrupt the movie and entertainment industry. As a passionate movie lover, I saw MoviePass as a great company to bring people back to the theater to share in the social experience only the big screen can provide,” said Kelly.