Helios and Matheson Analytics Inc (NASDAQ:HMNY) and MoviePass™ reported that MoviePass™ is providing a 1 year subscription plan for $89.95, including a processing fee of $6.55. Existing MoviePass consumers will get 25% savings from their prevailing $9.95 per month plan in case they subscribe to the new subscription plan. The one-year subscription plan is offered only for a limited time, offering movie-lovers a chance to attend the films they want at a lower price for a year.
MoviePass™ introduced its subscription plan worth $9.95 per month in August 2017, after a notable investment from Helios. The investment has allowed MoviePass™ to offer on its objective to bring considerable innovation to the movie theater segment and drive improved attendance to lower-budget films and movie theaters. Existing and new subscribers of MoviePass™ who take benefit of the new 1-year subscription plan will be charged $89.95 for the year in advance when they subscribe to the company’s plan.
Mitch Lowe, the CEO of MoviePass, expressed that this limited time offer is remarkable for movie-fans. At this price, it’s tough to compare it to anything else that offers as much entertainment for a year. They are venturing into the prime film going season, so now marks the perfect time to take benefit of the MoviePass™ movement.
Ted Farnsworth, the CEO and Chairman of HMNY, expressed that Helios and Matheson continues to be the leading supporter of MoviePass™, as it surpasses any other film theater subscription service and persists to disrupt the respective industry. They expect to helping MoviePass™ broadens its reach and streamline the movie theater industry.
In the last trading session, the stock price of Helios and Matheson declined more than 21% to close the day at $9.50. The decline came at a share volume of 6.55 million compared to average share volume of 5.20 million.