Helios and Matheson Analytics has formed MoviePass Films with Emmett Furla Oasis Films. Helios owns 51 percent and EFO Films 49 percent of the new company. MoviePass Films will focus on studio-driven content and new film production for theatrical release and other distribution channels. At the same time Helios announced that EFO Films has granted Helios the exclusive option to acquire the entire film library and current production slate of EFO Films.
Hollywood veterans Randall Emmett and George Furla will serve as co-CEO’s of MoviePass Films; MoviePass Films’ chairman of the board will be Ted Farnsworth. MoviePass CEO Mitch Lowe will hold a board seat as well, and Farnsworth and Lowe will work together day-to-day to execute the strategy between MoviePass and MoviePass Films. Terms of the deal were not disclosed, however both parties agreed on a payment in the form cash and stock.
The EFO Films library includes acclaimed titles such as Lone Survivor and Broken City and features A-List actors such as Mark Wahlberg, 50 Cent, Sylvester Stallone, Bruce Willis, Arnold Schwarzenegger, John Travolta, Denzel Washington, Nicolas Cage, Robert De Niro, Al Pacino, Kate Bosworth, Leelee Sobieski, Anna Kendrick and Ellen Burstyn. The EFO Films library also includes the upcoming titles Boss Level starring Naomi Watts, Mel Gibson and Anabelle Wallis, 2Guns, Escape Plan 2 and Escape Plan 3 starring Sylvester Stallone and Dave Bautista, The Irishman starring Robert De Niro, Al Pacino and Jesse Plemons, and The Iconic Video Game Asteroids by Atari, including others in production, with the goal of 12 to 15 films over the next year.
Helios plans to capitalize on the unique capabilities of its subsidiary, MoviePass, to market future MoviePass Films productions to millions of MoviePass subscribers and moviegoers everywhere. MoviePass Films will pay MoviePass for any marketing services provided to market MoviePass Films productions. MoviePass Films will own and control all revenue streams from theatrical release, domestic and foreign distribution rights, streaming, retail, DVD sales, and transactional sales.
“To have such a well-known, quality production company join forces with the Helios/MoviePass group of companies is truly remarkable,” said Lowe. “Since we began disrupting the movie industry with our unprecedented low-cost movie theater subscription service, MoviePass, we have envisioned owning and developing our own studio content and using the power of our several million subscribers to bolster the success of the box office for our films. I believe MoviePass Films will accelerate those efforts and demonstrate the power of MoviePass to drive movie theater attendance and downstream sales, for the benefit of moviegoers, movie theaters, studios and the film entertainment ecosystem as a whole.”
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